Research Article

Implications of the Global Financial Crisis for China: A Dynamic CGE Analysis to 2020

Table 6

Cumulative difference in real output due to financial crisis, China and selected countries, 2020 (%).

ChinaJapanUSEU27World’s total

Crops−4.2−6.3−5.3−8.5−6.8
Animals−4.7−14.9−8.4−12.4−8.9
Food processing−8.1−12.0−9.4−11.9−10.5
Forestry and extraction−3.3−12.2−6.5−7.9−6.6
Light manufactures−13.6−19.9−15.5−15.9−14.1
Heavy manufactures−4.8−19.8−16.1−17.4−11.4
Construction25.0−28.9−30.0−26.0−16.0
Services−8.6−8.0−7.1−9.5−8.5