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Ipea’s mission Enhance public policies that are essential to Brazilian development by producing and disseminating knowledge and by advising the state in its strategic decisions. PERSPECTIVE OF THE WORLD Volume 4 | Number 3 | December 2012 Global Production Chains and Value Added: China’s position in the consumer electronic industry Isabela Nogueira De Morais Crisis and Perplexity: the economists in face of the rupture of the pattern of global growth Emilio Chernavsky Japanese Industrial Policy Shoji Nishijima PERSPECTIVE OF THE WORLD Regional Liquidity Mechanisms in Developing Countries Gustavo Rojas De Cerqueira César Political Economy of the Chinese Transition in the Last Quarter of the 20th Century Rodrigo Pimentel Ferreira Leão 2012 3 | dec. 4 | n . v Federal Government Editorial Board RULES FOR ARTICLE SUBMISSION 1. Perspective of the World has been created to present and promote contemporary debates. 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Director of International Studies, Political and Economic Relations Renato Coelho Baumann das Neves Chief of Staff Bernardo Abreu de Medeiros Chief Press and Communications Officer João Cláudio Garcia Rodrigues Lima URL: http://www.ipea.gov.br Ombudsman: http://www.ipea.gov.br/ouvidoria PERSPECTIVE OF THE WORLD Volume 4 | Number 3 | December 2012 Brasília, 2012 © Institute for Applied Economic Research – ipea 2012 The Perspective of the World Review / Institute for Applied Economic Research. – v. 1, n. 1, (Dec. 2009). – Brasília: Ipea, 2009. Triannual. ISSN 2177-0255 1. Economics. 2. International Economy. 3. Economic and Social Development. 4. Sustainable Development. 5. Public Policies. 6. Periodicals. I. Institute for Applied Economic Research. CDD 330.05 The authors are exclusively and entirely responsible for the opinions expressed in this volume. 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CONTENTS GLOBAL PRODUCTION CHAINS AND VALUE ADDED: CHINA’S POSITION IN THE CONSUMER ELECTRONIC INDUSTRY ........................................................... 5 Isabela Nogueira de Morais CRISIS AND PERPLEXITY: THE ECONOMISTS IN FACE OF THE RUPTURE OF THE PATTERN OF GLOBAL GROWTH ................................................................. 45 Emilio Chernavsky JAPANESE INDUSTRIAL POLICY ............................................................................. 73 Shoji Nishijima REGIONAL LIQUIDITY MECHANISMS IN DEVELOPING COUNTRIES ....................... 95 Gustavo Rojas de Cerqueira César POLITICAL ECONOMY OF THE CHINESE TRANSITION IN THE LAST QUARTER OF THE 20TH CENTURY ..................................................... 149 Rodrigo Pimentel Ferreira Leão SUMÁRIO CADEIAS PRODUTIVAS GLOBAIS E AGREGAÇÃO DE VALOR: A POSIÇÃO DA CHINA NA INDÚSTRIA ELETROELETRÔNICA DE CONSUMO............................... 5 Isabela Nogueira de Morais CRISE E PERPLEXIDADE: OS ECONOMISTAS DIANTE DA RUPTURA DO PADRÃO DE CRESCIMENTO GLOBAL ............................................................... 45 Emilio Chernavsky POLÍTICAS INDUSTRIAIS JAPONESAS .................................................................... 73 Shoji Nishijima MECANISMOS REGIONAIS DE LIQUIDEZ EM PAÍSES EM DESENVOLVIMENTO ........................................................................................ 95 Rodrigo Pimentel Ferreira Leão A ECONOMIA POLÍTICA DA TRANSIÇÃO CHINESA NO ÚLTIMO QUARTEL DO SÉCULO XX .................................................................................................... 149 Rodrigo Pimentel Ferreira Leão GLOBAL PRODUCTION CHAINS AND VALUE ADDED: CHINA’S POSITION IN THE CONSUMER ELECTRONIC INDUSTRY Isabela Nogueira de Morais*1 The objective of this article is to map China’s presence in global production chains in the electronics industry, with special emphasis given to value added. It discusses whether China is upwards in the global value hierarchies and if the country is getting distance from the traditional contractor manufacturing position, generally responsible for standardized