Revista de Economie Mondiala/ Journal of Global Economics

21-35

Authors: Sarmiza Pencea

China’s economic pathway subsequent to 1978 is the greatest and most spectacular catching-up process ever succeded in the hystory of development. This country’s unprecedented race to regain the statute of a great economic power - lost in the 19th century, against the backdrop of the western industrial revolution – has developed at unequalled pace and produced exceptive results, overturning previous global hierarchies and exerting influence to the farthest corners of the world. Yet, nowhere else has its impact been more ample than in Asia, where China has become the largest regional economy, overriding Japan (2010), a highly developed country, although China itself is still an emerging economy. The channels which these influences are transmitted through are complex, pertaining to both the market mechanisms and to institutions and policies. In this paper we look at some of the influences exerted and changes triggered by China in Asia, through market mechanisms.

51-66

Authors: Iulia Monica Oehler-Șincai

According to international experts, a country’s demand for metals follows its GDP per capita trend. Taking into consideration China’s position as the main consumer of metals worldwide and the corollary that its demand will keep on increasing at least until its GDP per capital level doubles – which cannot happen before the 2020s – this country’s consumption of metals will continue its ascending move. Moreover, the experts foresee that China will surpass the USA by 2030 as regards its GDP in current prices, and its economy will become the largest in the world. Consequently, China’s consumption of metals will surpass the actual level in the following years, in spite of its GDP slowing down and the process of its economic rebalancing. Statistical data and recent research papers underline that the Chinese demand for durable goods will increase in the following period thus the demand for metals used in manufacturing will continue to grow. At the same time, the Chinese infrastructure is far from completed, as the development gaps between the eastern China and its central and western regions are considerable and the investments in building or modernizing national roads, highways, electrical grid, utilities, harbours, airports will continue to be significant. Therefore, under the “China factor”, the world metal demand will grow further in parallel with the technical progress, rise in the standard of living and the gradual increase of income per capita. At the same time, the dynamics and structure of consumption of different metals will change.

81-92

Authors: Florela Stoian

This paper is dealing with the main issues regarding the long term evolution of the world aluminium market (demand, supply, prices), a metal largely used în the industrial production. The analyses point out the major impact of the 2008-2009 economic crisis upon the world aluminium market, as a result of the significant decline of demand, while the offer increased, contributing to the growing market imbalance and pressing over the white metal prices at London Metal Exchange-LME.