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 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 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 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 Long Term Economic Development written by Hongjun Zhao and published by Edward Elgar Publishing. This book was released on 2018-08-31 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the evolution of Chinese governmental governance and its long-lasting impact on Chinese economic development, firstly by examining the formation of Chinese style governance, the core contents of this governance and its vitality compared to other governance patterns in Chinese history. Secondly, this book discusses the effectiveness of this governance in supporting economic development before the Song dynasty and its failure in serving economic development during the past three to five centuries. Ultimately, Hongjun Zhao predicts the direction Chinese governance will take in the next 20 years.

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 The Institutional Evolution of China written by Fan Zhang and published by Edward Elgar Publishing. This book was released on 2018-09-28 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's recent evolution is not only a story of extraordinary economic growth but also a story of great institutional change. Fan Zhang challenges traditional theory to explain the real origins of China's reform, the political and economic forces driving it, and the reasoning behind its stagnation. The institutional re-arrangement of government and market has been crucial in this marketization process. Using a wealth of documents and cases, Zhang provides a detailed analysis of China's institutional changes over the past 40 years, focusing on the government-market relationship. A theoretical framework is presented to explain the targets and incentives of government and business firms in a bureaucratic-market system, which promoted economic growth, but also fostered corruption and resulted in a re-centralisation of the system. Using an index of marketization in China since 1978, Zhang shows that overall, market expansion has continued but with diminishing marginal gains. The government control of financial resources that had previously been relaxed in the early years of reform has been enhanced to some extent as a result of the changing institutional environment. Policy makers dealing with China-related policies, researchers and postgraduate students in political science, economics and Chinese studies will find this book a compelling exploration of the current and constant cooperation and conflict between government and market.

Download or read book Deng Xiaoping and the Transformation of China written by Ezra F. Vogel and published by Harvard University Press. This book was released on 2013-10-14 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Lionel Gelber Prize National Book Critics Circle Award Finalist An Economist Best Book of the Year | A Financial Times Book of the Year | A Wall Street Journal Book of the Year | A Washington Post Book of the Year | A Bloomberg News Book of the Year | An Esquire China Book of the Year | A Gates Notes Top Read of the Year Perhaps no one in the twentieth century had a greater long-term impact on world history than Deng Xiaoping. And no scholar of contemporary East Asian history and culture is better qualified than Ezra Vogel to disentangle the many contradictions embodied in the life and legacy of China’s boldest strategist. Once described by Mao Zedong as a “needle inside a ball of cotton,” Deng was the pragmatic yet disciplined driving force behind China’s radical transformation in the late twentieth century. He confronted the damage wrought by the Cultural Revolution, dissolved Mao’s cult of personality, and loosened the economic and social policies that had stunted China’s growth. Obsessed with modernization and technology, Deng opened trade relations with the West, which lifted hundreds of millions of his countrymen out of poverty. Yet at the same time he answered to his authoritarian roots, most notably when he ordered the crackdown in June 1989 at Tiananmen Square. Deng’s youthful commitment to the Communist Party was cemented in Paris in the early 1920s, among a group of Chinese student-workers that also included Zhou Enlai. Deng returned home in 1927 to join the Chinese Revolution on the ground floor. In the fifty years of his tumultuous rise to power, he endured accusations, purges, and even exile before becoming China’s preeminent leader from 1978 to 1989 and again in 1992. When he reached the top, Deng saw an opportunity to creatively destroy much of the economic system he had helped build for five decades as a loyal follower of Mao—and he did not hesitate.

Download or read book Development Centre Studies Chinese Economic Performance in the Long Run written by Maddison Angus and published by OECD Publishing. This book was released on 1998-09-25 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.

Download or read book Resurging Asian Giants written by Klaus Gerhaeusser and published by Asian Development Bank. This book was released on 2010-07-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the People's Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world's economic landscape, noted Chinese and Indian scholars have studied the two countries' development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, ADB has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.

Download or read book How China Became Capitalist written by R. Coase and published by Springer. This book was released on 2016-04-30 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.

Download or read book The Political Logic of Economic Reform in China written by Susan L. Shirk and published by Univ of California Press. This book was released on 2023-04-28 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chinese communist political institutions are more flexible and less centralized than their Soviet counterparts were. Shirk pioneers a rational choice institutional approach to analyze policy-making in a non-democratic authoritarian country and to explain the history of Chinese market reforms from 1979 to the present. Drawing on extensive interviews with high-level Chinese officials, she pieces together detailed histories of economic reform policy decisions and shows how the political logic of Chinese communist institutions shaped those decisions. Combining theoretical ambition with the flavor of on-the-ground policy-making in Beijing, this book is a major contribution to the study of reform in China and other communist countries. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1994. In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chine

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 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 China s Economic Transformation written by Gregory C. Chow and published by John Wiley & Sons. This book was released on 2014-12-22 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now available in a fully-revised and updated third edition, this established textbook provides a penetrating and comprehensive analysis of the historical, institutional, and theoretical factors that have contributed to China’s economic success. Includes coverage of China’s foreign investments, trade with regional partners, Chinese human capital, and bureaucratic economic institutions Covers a diverse set of important issues, including environmental restraints, income distribution, rural poverty, the education system, healthcare, exchange rate policies, monetary policies, and financial regulation Accessibly written and intelligently organized to offer a straightforward guide to China’s economic evolution Written by a lauded economist, researcher, and advisor to government officials in mainland China and Taiwan

Download or read book China s Domestic Transformation in a Global Context written by Ligang Song and published by ANU Press. This book was released on 2015-07-08 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: The phrase ‘New Normal’ captures the ongoing shift in the pattern and drivers of China’s economic growth. China’s new growth rate is both slower and imposing difficult structural change. These new economic conditions are challenging yet offer opportunities for China and its economic partners. Reforms must be deepened but also make growth more inclusive and environmentally sustainable, over this decade and beyond. This year’s Update offers both global context and domestic insight into this challenging new phase of China’s domestic economic transformation. How are policymakers elevating migrant workers concurrent with increasing consumption? Is China’s government spending enough on education and R&D to ensure it can achieve its aspirations to ascend the global manufacturing value chain and avoid the middle-income trap? Are energy market reforms reducing or increasing the price of gas and electricity in China? What are the consequences of China’s financial reforms and expanding Renminbi trading for foreign banks? What does China’s new growth model mean for the international resources economy and for Africa? Do SOEs face market conditions and are they dominating China’s fast-rising outbound investment? What is China’s strategy for navigating fragmented international trade policy negotiations?

Download or read book The China Miracle written by Justin Yifu Lin and published by The Chinese University of Hong Kong Press. This book was released on 2004-03-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tremendous success of China's economic reform, in contrast with the vast difficulties encountered by the former Soviet Union and Eastern European countries in their transition, has attracted worldwide attention. Using a historical, comparative and analytic approach grounded in mainstream economics, the authors develop a consistent and rational framework of state-owned enterprises and individual agents to analyze the internal logic of the traditional planning system. They also explain why the Chinese economy grew slowly before the market-oriented reform in 1979 but became one of the fastest growing economies afterwards, and why the vigour/chaos cycle became part of China's reform process. The book also addresses to the questions that whether China can continue its trend of reform and development and become the largest economy in the world in the early 21st century, and what the general implications of China's experience of development and reform are for other developing and transition economies. The first edition has been well-received and is the standard textbook or reference for students and researchers of China studies. In this thoroughly revised edition, the authors have updated the data and information in the book and include a new chapter on the impact of China's WTO accession on its economic reforms and causes of the current deflation.