Download or read book China s Unfinished Open economy Reforms written by Kiichiro Fukasaku and published by . This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s Unfinished Economic Revolution written by Nicholas R. Lardy and published by Brookings Institution Press. This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes China's financial system and its vulnerability to the Asian financial crisis.
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 China written by Ross Garnaut and published by ANU E Press. This book was released on 2012-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-five years of reform have transformed China from a centrally planned and closed system to a predominantly market-driven and open economy. As a consequence, China is emerging as the new powerhouse for the world economy. China: new engine for world growth discusses the impact and significance of this transformation. It points out risks to the growth process and unfinished tasks of reform. It presents conclusions from recent research on growth, trade and investment, the financial sector, income and regional disparities, industrial location and private sector development.
Download or read book China s Unfinished Economic Revolution written by Nicholas R. Lardy and published by Brookings Institution Press. This book was released on 1998-07-01 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's Unfinished Economic Revolution offers a fundamentally different interpretation of China's economic reform. The common view that China's gradualistic approach has served it well overlooks the fact that state-owned banks for the last two decades have channeled a large share of sharply rising household savings into what are mostly unreformed, money-losing companies. The result is that several of China's largest financial institutions now are insolvent. To avoid a major domestic banking crisis the book argues that China must recapitalize and restructure its domestic banking system and end the long-standing practice of making lending decisions based on political rather than economic criteria. Nicholas Lardy explains that this course will inevitably be costly in political terms, in part because it will lead for a time to a slower rate of economic growth. But the alternative is even less attractive—permanently slower growth, continued macroeconomic instability, an inability to meet the expectations of the international community for the opening of its domestic financial markets, and insufficient resources to deal with severe environmental deterioration, growing water shortages, and a rapidly aging population. This timely book also analyzes the new reform initiatives China has launched in the wake of the Asian financial crisis, suggests additional steps that must be taken, and evaluates the implications for U.S. policy.
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 Unfinished Reforms In The Chinese Economy written by Jun Zhang and published by World Scientific. This book was released on 2013-05-06 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has quickly moved into a critical point in the sense that its past performance in economic growth and development has created so many unsolved problems, and for such problems to be addressed, a better understanding of these problems and a clear policy framework are required for policy makers to conduct reforms. Based on high-level empirical research on China's economic development by each of the contributors, this edited book provides an in-depth and clear analysis of many of important issues facing China's move to new phase of economic development and transformation, and discusses policy issues involved in further reforms.
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 Making Of An Economic Superpower The Unlocking China s Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.
Download or read book The China Boom and Its Discontents written by Ross Garnaut and published by ANU E Press. This book was released on 2005-10-01 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is shaping the global economy as never before. An insatiable demand for commodities, energy resources and capital, and deepening integration to the world economy has won China acclaim. Yet 25 years of rapid industrial development, far-reaching economic reforms and increasing international competition have also created an array of challenging domestic policy demands. The China Boom and its Discontents discusses the financial and social challenges that have emerged in the wake of rapid economic growth. Recent research on demographic trends, labour movements, financial development, social security, urbanisation and trade agreements highlight the unfinished progress of reforms in China.
Download or read book How Far Across the River written by Nicholas Hope and published by Stanford University Press. This book was released on 2003-08-13 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gradual change has been a hallmark of the Chinese reform experience, and China's success in its sequential approach makes it unique among the former command economies. Since 1979, with the inception of the continuing era of reform, the Chinese economy has flourished. Growth has averaged nine percent a year, and China is now a trillion dollar economy. China has become a major trading power and the predominant target among developing countries for foreign direct investment. Despite all this, China remains poor and the reform process unfinished. This book takes its defining theme from Deng Xiaopeng's famous metaphor for gradual reform: “feeling the stones to cross the river.” How far has China progressed in fording the river? The experts who contributed to this volume tackle many aspects of that question, assessing Chinese progress in policy reform, priorities for further reform, and the research still needed to inform policymakers’ decisions.
Download or read book China written by Ross Garnaut and published by ANU E Press. This book was released on 2010-07-01 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has made some remarkable achievements during the first three decades of economic reform and opening up, rising to become one of the world's most dynamic and globally-integrated market economies. Yet there remains much unfinished business on the reform and development agenda, coupled with newly emerging challenges. CHINA: THE NEXT TWENTY YEARS OF REFORM AND DEVELOPMENT highlights how the deepening of reforms in critical areas such as domestic factor markets, the exchange rate regime and the health system, combined with the strengthening of channels for effective policy implementation, will enable China to cope with the challenges that lie ahead. These include responding to the pending exhaustion of the unlimited supply of labour; playing a constructive role in reducing global trade imbalances; enhancing firms' ability to innovate; coping with migration, urbanisation and rising inequalities on scales unknown in world history; and dealing with rising energy and metal demand in an era in which low-carbon growth has become a necessity rather than a choice.
Download or read book Economic Reform in India written by and published by Cambridge University Press. This book was released on 2013-01-21 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading economists assess India's economic performance, policies and institutions.
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 China s Emerging Global Businesses written by Y. Zhang and published by Springer. This book was released on 2003-05-15 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is well-known as the largest recipient of foreign direct investment among developing countries. Little is known so far of the fact that China has become (quietly) one of the most significant third world investors in the global economy. This book traces the evolutionary path of China's outward investment activities and examines the political economy of the rapid rise of China's global businesses in the context of the economic reforms since 1978. The analysis of changing policy regimes for China's outward investment is complemented by detailed investigations of the rise and operation of three pioneering Chinese multinationals to illustrate this new thrust of China's engagement with the global economy. China's global reach examined in this study explores issues concerning China's creative responses to globalisation and the processes through which China his becoming a globalised state. The first ever book-length study of China's global investment activities, this book fills a significant gap in the literature on China's economic transformation and the rise of multinational corporations from developing countries.
Download or read book Zhu Rongji And China s Economic Take off written by John Wong and published by World Scientific. This book was released on 2016-04-25 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following Deng Xiaoping's economic reform and opening (Gaige Kaifang) policy, China experienced unprecedented high growth for over three decades. Crucial in the process was the role of Zhu Rongji, who was hand-picked by Deng initially as Executive Vice-Premier and later full Premier to carry through the needed reform and manage the critical marketization process through the turbulent 1990s when China's economy suffered many ups and downs. Dubbed as China's 'Economic Czar', Zhu tackled many thorny problems associated with the country's then half-reformed economy ably and effectively, thereby laying the ground for subsequent periods of greater dynamic growth. Zhu was instrumental in preparing China's economy for its final take-off.The chapters in this volume were originally written as 'policy briefings' for the Singapore government from 1997 to 2003 when Zhu was Premier. They cover a wide variety of topics including how he had applied his own way of 'macroeconomic control' (Hongguan Tiaokong), how he went about reforming taxation, foreign exchange and state-owned enterprises, and finally his embrace of capitalism. Each chapter is preceded by a detailed introduction highlighting the main issues and interpreting them from today's perspective based on updated information and additional new research.
