Download or read book China s Continued Reforms In A New Era Their Impact On Chinese Foreign Direct Investments And Rmb Internationalization written by Xugang Yu and published by World Scientific. This book was released on 2020-03-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the new economic and financial reforms China is adopting to advance its economy, and the policies behind the Chinese Outbound Direct Investment (ODI). It also aims to illustrate the impact of China's reforms on Chinese Outward Investments, and the Internationalization of the RMB.The book explores the new wave of reforms, especially in the financial sector, together with President Xi Jinping's vision for a shared future for mankind together with his explanation on the 'new Era'. In fact, China is entering a 'New Era' and transforming its economy into a more sophisticated one, upgrading the industrial sector and introducing specific and dedicated reforms in the SOEs (State Owned Enterprises) to render them more efficient and allow them to compete fairly at the international level.The book also focuses on RMB 'internationalization'. It also contains an addendum on trade frictions between China and the US.
Download or read book The State Strikes Back written by Nicholas R. Lardy and published by Peterson Institute for International Economics. This book was released on 2019-01-01 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
Download or read book China s Economic Rise written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-09-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
Download or read book To Get Rich Is Glorious written by Jacques deLisle and published by Brookings Institution Press. This book was released on 2019-09-24 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: " In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "
Download or read book China s 40 Years of Reform and Development 1978 2018 written by Ross Garnaut and published by ANU Press. This book was released on 2018-07-19 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.
Download or read book China s Political Economy In The Xi Jinping Epoch Domestic And Global Dimensions written by Lowell Dittmer and published by World Scientific. This book was released on 2021-03-17 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a fresh look at Chinese political economy at a key inflection point. Facing a more competitive international environment, Chinese reform has shifted from its earlier focus on economic liberalization and political decentralization to a more tightly organized, centralized form of state socialism. The Party-state's vigorous fiscal reaction to the Global Financial Crisis (2008-2009) left the country with a much improved infrastructure and greater sense of national self-assurance. The more monocratic central leadership has redoubled efforts to fight poverty and pollution, push technological innovation, and at the same time rigorously enforce ideological consensus, political loyalty and anticorruption.This has been occurring in an international context of slowing trade and nationalist pushback against 'globalization', prominently including bilateral Chinese-American polarization. While China has been among the staunchest advocates and beneficiaries of globalization, incipient trade war 'decoupling' has spurred movement toward economic and technological self-reliance. Turning inward however vies with a rival impulse toward more vigorous engagement in the world. This is most consequentially represented by the Belt and Road Initiative, driving massive infrastructure construction through Central Asia and the South and Southeast Asian maritime periphery. Despite slowing growth and a large debt overhang, swift recovery from the Covid-19 epidemic leaves China in a relatively strong economic position.
Download or read book The China Model written by Daniel A. Bell and published by Princeton University Press. This book was released on 2016-08-23 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China's political model could prove to be a viable alternative to Western democracy Westerners tend to divide the political world into "good" democracies and “bad” authoritarian regimes. But the Chinese political model does not fit neatly in either category. Over the past three decades, China has evolved a political system that can best be described as “political meritocracy.” The China Model seeks to understand the ideals and the reality of this unique political system. How do the ideals of political meritocracy set the standard for evaluating political progress (and regress) in China? How can China avoid the disadvantages of political meritocracy? And how can political meritocracy best be combined with democracy? Daniel Bell answers these questions and more. Opening with a critique of “one person, one vote” as a way of choosing top leaders, Bell argues that Chinese-style political meritocracy can help to remedy the key flaws of electoral democracy. He discusses the advantages and pitfalls of political meritocracy, distinguishes between different ways of combining meritocracy and democracy, and argues that China has evolved a model of democratic meritocracy that is morally desirable and politically stable. Bell summarizes and evaluates the “China model”—meritocracy at the top, experimentation in the middle, and democracy at the bottom—and its implications for the rest of the world. A timely and original book that will stir up interest and debate, The China Model looks at a political system that not only has had a long history in China, but could prove to be the most important political development of the twenty-first century.
Download or read book How China Escaped Shock Therapy written by Isabella M. Weber and published by Routledge. This book was released on 2021-05-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
Download or read book End of an Era written by Carl Minzner and published by Oxford University Press. This book was released on 2018-02-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's reform era is ending. Core factors that characterized it-political stability, ideological openness, and rapid economic growth-are unraveling. Since the 1990s, Beijing's leaders have firmly rejected any fundamental reform of their authoritarian one-party political system, and on the surface, their efforts have been a success. But as Carl Minzner shows, a closer look at China's reform era reveals a different truth. Over the past three decades, a frozen political system has fueled both the rise of entrenched interests within the Communist Party itself, and the systematic underdevelopment of institutions of governance among state and society at large. Economic cleavages have widened. Social unrest has worsened. Ideological polarization has deepened. Now, to address these looming problems, China's leaders are progressively cannibalizing institutional norms and practices that have formed the bedrock of the regime's stability in the reform era. End of an Era explains how China arrived at this dangerous turning point, and outlines the potential outcomes that could result.
Download or read book China 2049 written by David Dollar and published by Brookings Institution Press. This book was released on 2020-06-09 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Download or read book China s Continued Reforms in a New Era written by Xugang Yu and published by World Scientific Publishing Company. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the new economic and financial reforms China is adopting to advance its economy, and the policies behind the Chinese Outbound Direct Investment (ODI). It also aims to illustrate the impact of China's reforms on Chinese Outward Investments, and the Internationalization of the RMB. The book explores the new wave of reforms, especially in the financial sector, together with President Xi Jinping's vision for a shared future for mankind together with his explanation on the "new Era". In fact, China is entering a "New Era" and transforming its economy into a more sophisticated one, upgrading the industrial sector and introducing specific and dedicated reforms in the SOEs (State Owned Enterprises) to render them more efficient and allow them to compete fairly at the international level. The book also focuses on RMB "internationalization". It also contains an addendum on trade frictions between China and the US.
Download or read book China s Grand Strategy written by Andrew Scobell and published by Rand Corporation. This book was released on 2020-07-27 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
Download or read book Ethnic Policy in China written by James Leibold and published by Policy Studies (East-West Cent. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following significant interethnic violence beginning in 2008, Chinese intellectuals and policymakers are now engaged in unprecedented debate over the future direction of their country's ethnic policies. This study attempts to gauge current Chinese opinion on this once-secretive and still highly sensitive area of national policy. Domestic Chinese opinion on ethnic policies over the last five years is reviewed and implications for future policies under the new leadership of CPC Secretary General Xi Jinping are explored. Careful review of a wide spectrum of contemporary Chinese commentary identifies an emerging consensus for ethnic-policy reform. Leading public intellectuals, as well as some party officials, now openly call for new measures strengthening national integration at the expense of minority rights and autonomy. These reformers argue that divisive ethnic policies adopted from the former USSR must be replaced by those supporting an ethnic "melting pot" concept. Despite this important shift in opinion, such radical policy changes as ending regional ethnic autonomy or minority preferences are unlikely over the short-to-medium term. Small-yet-significant adjustments in rhetoric and policy emphasis are, however, expected as the party-state attempts to strengthen interethnic cohesiveness as a part of its larger agenda of stability maintenance. About the author James Leibold is a senior lecturer in Politics and Asian Studies at La Trobe University in Melbourne, Australia. He is the author of Reconfiguring Chinese Nationalism (2007) and co-editor of Critical Han Studies (2012) and Minority Education in China (forthcoming). His research on ethnicity, nationalism, and race in modern China has appeared in The China Journal, The China Quarterly, The Journal of Asian Studies, Modern China, and other publications.
Download or read book A Social History of Maoist China written by Felix Wemheuer and published by Cambridge University Press. This book was released on 2019-03-28 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new social history of Maoist China provides an accessible view of the complex and tumultuous period when China came under Communist rule.
Download or read book Chinese Military Reform in the Age of Xi Jinping Drivers Challenges and Implications written by Joel Wuthnow and published by Government Printing Office. This book was released on with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's People's Liberation Army (PLA) has embarked on its most wide-ranging and ambitious restructuring since 1949, including major changes to most of its key organizations. The restructuring reflects the desire to strengthen PLA joint operation capabilities- on land, sea, in the air, and in the space and cyber domains. The reforms could result in a more adept joint warfighting force, though the PLA will continue to face a number of key hurdles to effective joint operations, Several potential actions would indicate that the PLA is overcoming obstacles to a stronger joint operations capability. The reforms are also intended to increase Chairman Xi Jinping's control over the PLA and to reinvigorate Chinese Communist Party (CCP) organs within the military. Xi Jinping's ability to push through reforms indicates that he has more authority over the PLA than his recent predecessors. The restructuring could create new opportunities for U.S.-China military contacts.
Download or read book China written by Ross Garnaut and published by Asia Pacific Press. This book was released on 1999 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 2050 China written by Angang Hu and published by Springer Nature. This book was released on 2020-12-17 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY-NC-ND 4.0 license. This book is arranged and developed around the theme of “2050 China,” it analyzes the factors and advantages of the Chinese road to socialist modernization, explores and summarizes the development goal and the basic logic of the socialist modernization of China, and further shows the general basis of the primary stage of socialism. According to the report delivered at the 19th Party Congress, and according to the “two-stage” strategic plan, this book looks ahead in detail to the overarching objective and sub-objectives of essentially achieving socialist modernization by 2035, discusses the building of a great modern socialist country in all respects from the perspective of the Party’s six-sphere integrated plan of economic, political, cultural, social, ecological civilization, and national defense construction, and provides policy proposals. This book also analyzes the influence and the effect of the socialist modernization with Chinese characteristics on the world and it further presents the third centenary goal. In conclusion, this book is an elaboration of the work of the Institute for Contemporary China Studies, Tsinghua University. It reflects the intellectual innovation in the authors’ research on contemporary China, as well as the authors’ foresight and predictions about China’s future development.
