Download or read book China s Economic Rise and Its Global Impact written by Ken Moak and published by Springer. This book was released on 2016-04-08 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through a thorough analysis of China's recent history and economic development process, the authors of this book seek to explain the causes of China's economic rise and its impact on the rest of the world.

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 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 Sustaining China s Economic Growth After the Global Financial Crisis written by Nicholas R. Lardy and published by Peterson Institute. This book was released on 2012 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 258 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 and the Transformation of Global Capitalism written by Ho-fung Hung and published by JHU Press. This book was released on 2009-09-15 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explains China's economic rise and liberalization and assesses how this growth is reshaping the structure and dynamics of global capitalism in the twenty-first century. China has historically been the center of Asian trade, economic, and financial networks, and its global influence continues to expand in the twenty-first century. In exploring the causes for and effects of China's re surging power, this volume takes a broad, long-term view that reaches well beyond economics for answers. Contributors explore the vast web of complex issues raised by China's ascendancy. The first three chapters discuss the global and historical origins of China's shift to a market economy and that transformation's impact on the international market system. Subsequent essays explore the ability of large Chinese manufacturers to counter the might of transnational retailers, the effect of China's rise on world income distribution and labor, and the consequences of a stronger China for its two most powerful neighbors, Russia and Japan. The concluding chapter questions whether China's growth is sustainable and if it will ultimately shift the center of global capitalism from the West to the East.

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 Global China written by Tarun Chhabra and published by Brookings Institution Press. This book was released on 2021-06-22 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global implications of China's rise as a global actor In 2005, a senior official in the George W. Bush administration expressed the hope that China would emerge as a “responsible stakeholder” on the world stage. A dozen years later, the Trump administration dramatically shifted course, instead calling China a “strategic competitor” whose actions routinely threaten U.S. interests. Both assessments reflected an underlying truth: China is no longer just a “rising” power. It has emerged as a truly global actor, both economically and militarily. Every day its actions affect nearly every region and every major issue, from climate change to trade, from conflict in troubled lands to competition over rules that will govern the uses of emerging technologies. To better address the implications of China's new status, both for American policy and for the broader international order, Brookings scholars conducted research over the past two years, culminating in a project: Global China: Assessing China's Growing Role in the World. The project is intended to furnish policy makers and the public with hard facts and deep insights for understanding China's regional and global ambitions. The initiative draws not only on Brookings's deep bench of China and East Asia experts, but also on the tremendous breadth of the institution's security, strategy, regional studies, technological, and economic development experts. Areas of focus include the evolution of China's domestic institutions; great power relations; the emergence of critical technologies; Asian security; China's influence in key regions beyond Asia; and China's impact on global governance and norms. Global China: Assessing China's Growing Role in the World provides the most current, broad-scope, and fact-based assessment of the implications of China's rise for the United States and the rest of the world.

Download or read book China s New Sources of Economic Growth Vol 1 written by Ligang Song and published by ANU Press. This book was released on 2016-07-21 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

Download or read book Rising China written by Jane Golley and published by ANU E Press. This book was released on 2011-06-01 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.

Download or read book The Chinese Economic Transformation written by Song, Ligang and published by ANU Press. This book was released on 2019-07-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese Economic Transformation, the 19th volume in the China Update book series, provides an opportunity for young economists to share their views on various issues relating to the Chinese economic transformation. More than half of the contributors to this book are female scholars. Some of the contributors are rising stars in the studies of the Chinese economy and economic transition, and some only recently received their PhDs and are on their way to establishing themselves in the field of China studies. But they have one thing in common: to passionately observe, study and research what is going on in the Chinese economic transformation during the reform period; and, by so doing, make contributions to the policy debates on, and general understanding of, the Chinese economy. The chapters in this volume include an in-depth probe into challenges in capital and credit allocation due to financial friction and policy distortions; investigating the causes of growth slow-down in China and suitable policy responses; the evolution of the household registration system and its impact on off-farm employment and the integration of rural and urban labour markets; the growth, scale and characteristics of nonstandard employment; the development of rural e-commerce and its economic impact; innovation performance of listed enterprises in China; financial services liberalisation and its impact on firms’ performance; financing support schemes for small and medium-sized enterprises (SMEs) and the effect on banks’ credit allocation to SMEs; the potential costs of US–China trade conflict and ways to mitigate them; gender income gap in China’s labour market; causes of blockage of Chinese overseas direct investment and strategies to reduce the probability of encountering obstacles; and the role of state capital in the iron ore boom in Australia. The great variety of topics in this year’s Update allows readers to understand the current shape of the Chinese economy and to think deeply about policies and necessary reforms for future growth and development.

Download or read book China in the Local and Global Economy written by Steven Brakman and published by Routledge. This book was released on 2018-11-21 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history of China dates back thousands of years, with periods of decline followed by periods of growth and innovation. This book puts the last 50 years – China's most recent period of growth – into perspective. It explores the changing national and international connections within China and between China and other parts of the world, and their importance for understanding the past, current, and future developments of the Chinese economy. The book brings together leading international contributors from China, Japan and Europe to consider the historical developments of these connections, the importance of natural and man-made connections for the Chinese economy, the role of institutions and policies for understanding the connections and their sustainability. This book will be of interest to scholars and researchers focusing on China, economics, geography or international trade.

Download or read book The Turning Point in China s Economic Development written by Ross Garnaut and published by ANU E Press. This book was released on 2006-08-01 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on China's long-term pattern of growth and employment, demographic shifts, and rural-urban migration, its agricultural trade and local elections, China's banking sector reform and its fiscal sustainability, its environmental concerns, and much more.

Download or read book China s Changing Economy written by Curtis Andressen and published by Routledge. This book was released on 2016-05-20 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most dramatic events in the global economy over the past few decades has been the rise of China as a global economic power. From humble beginnings in the late 1970s, the policy shift in China from a planned to market economy has led to economic growth of tremendous speed. This book examines the changes taking place in China’s economy today and the impacts of these changes in China and abroad. The central theme is that the rapid economic growth has come at a cost, as many problems have emerged as a result in China’s economy and society, including a dramatic rich-poor gap, labour issues, problems in the banking sector and severe inflation in the cost of housing, as well as challenges with respect to China’s external trade. The Chinese government recognizes these problems and is taking steps to rebalance its economy and society. The book takes a political economy perspective in order to investigate the interplay between the political system in China and the way in which the economy is structured, and the manner in which economic changes take place. Demonstrating that in order for China to achieve sustained economic growth and social improvement it must undertake serious policy changes, it also highlights that if countries are going to deal with China in a stable and productive manner, a thorough understanding of key contemporary developments in that country is vital. Covering a range of the most pertinent issues facing China today, this book will be of interest to students and scholars of Chinese Economics, Economic Development and Political Economy.

Download or read book The Chinese Century written by Oded Shenkar and published by Pearson Education. This book was released on 2006-01-31 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: By 2015, China may well have the world's largest economy. In The Chinese Century, Oded Shenkar shows how China is restoring its imperial glory by infusing modern technology and market economics into a non-democratic system controlled by the Communist party and bureaucracy. Shenkar shows why China's quest for global success differs radically from predecessors such as Japan, India, and Mexico... why it represents a fundamental restructuring of the global business system... and why it will transform the roles of participants in the global economy. He previews tomorrow's new competitive ground rules, terms of employment, and consumption patterns, and shows how Chinese ascendancy is redrawing political, economic, and social battle lines. Learn why the U.S. is most vulnerable to China's ascent... how China's disregard for intellectual property creates sustainable competitive advantage... how China's growth impacts global businesses and individual purchasing decisions. Above all, Shenkar shows what you must do to survive and prosper in "The Chinese Century."

Download or read book China and the World Economy written by Yih-chyi Chuang and published by LIT Verlag Münster. This book was released on 2010 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's integration in the world economy is perceived as one of the major events in the world economy in recent decades. As a result of the large inflow of foreign direct investment (FDI), China has become one of the leading trade nations worldwide. China's opening to the outside world, privatization of state-owned enterprises, urban and rural industrial development, and pursuit of economic plus ecological policies (green GDP) are presented as key elements of the so-called socialist market economy of Chinese origin. The situation in China tends to present some very contradictory features: in terms of GDP per capita, China still belongs to the group of developing countries but, on the other hand, Chinese enterprises are set to become highly competitive - and active in the international business arena. China and the World Economy is a topic-oriented edition of the bi-annual journal, Berliner China-Hefte/Chinese History and Society, which analyzes issues related to China's integration in the world economy and the related impacts. Employing interdisciplinary approaches, the authors ask whether the driving force of global economic trends will lead to profound changes, not only in foreign and domestic business, but also in China's overall economic and societal development: what kinds of new trends can be identified, for example, in the fields of investment, innovation, trade and finance? How are institutional, regional and/or environmental changes observed at global and domestic levels? And, consequently, how do these trends introduce new analytical perspectives on China's economic rise after three decades of reform?

Download or read book China s Dilemma written by Ligang Song and published by ANU E Press. This book was released on 2008-07-01 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's Dilemma - Economic Growth, the Environment and Climate Change examines the challenges China will have to confront in order to maintain rapid growth while coping with the global financial turbulence, some rising socially destabilising tensions such as income inequality, an over-exploited environment and the long-term pressures of global warming. China's Dilemma discusses key questions that will have an impact on China's growth path and offers some in-depth analyses as to how China could confront these challenges. The authors address the effect of the global credit crunch and financial shocks on China's economic growth; China's contribution to greenhouse gas emissions and emissions reduction schemes; the environmental consequences of foreign direct investment in China; the relationship between air pollution and mortality; the effect of climate change on agricultural output; the coal industry's compliance with tougher regulations; and the constraints water shortages may impose on China's economy. It also emphasises the importance of managing the rising demand for energy to moderate oil price increases and placating domestic and international concerns about global warming. In the thirty years since China started on the path of reform, it has emerged as one of the largest and most dynamic economies in the world. This carries with it the responsibility to balance the requirements of key industries that are driving its development with the need to ensure that its growth is both equitable and sustainable. China's Dilemma highlights key lessons learned from the past thirty years of reform in order to pave the way for balanced and sustained growth in the future.