Download or read book Export Dependence and Sustainability of Growth in China written by Yilmaz Akyz and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the contribution of exports to growth in China since the early years of the decade. It is estimated that, despite a high import content ranging between 40 and 50 percent, approximately one-third of Chinese growth before the global crisis was a result of exports, due to their phenomenal growth of some 25 percent per annum. This figure increases to 50 percent if spillovers to consumption and investment are allowed for. The main reason for excessive dependence on foreign markets is underconsumption. This is due not so much to a high share of household savings in GDP as to a low share of household income and a high share of profits. It is argued that China can no longer maintain such high growth rates for its exports, and, therefore, needs to turn to consumption-led growth by expanding the share of wages and household income in GDP and accelerating public spending in social infrastructure.
Download or read book Export Dependence and Sustainability of Growth in China and the East Asian Production Network written by Yılmaz Akyüz and published by . This book was released on 2010 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is China s Export Oriented Growth Sustainable written by Kai Guo and published by International Monetary Fund. This book was released on 2009-08 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the sustainability of China's export-oriented growth over the medium to longer term. It shows that maintaining the current export-oriented growth would require significant gains in market share through lower prices in a range of industries. This, in turn, could be achieved through a combination of increases in productivity, lower profits, and higher implicit or explicit subsidies to industry. However, the evidence suggest that it will prove difficult to accommodate such price reductions within existing profit margins or through productivity gains. Moving up the value-added chain, shifting the composition of exports, diversifying the export base, and increasing domestic value added of exports could give room to further export expansion. However, experiences from Asian economies that had similar export-oriented growth suggest there are limits to the global market share a country can occupy. Rebalancing growth toward private consumption would provide a large impetus to output growth and reduce the need for gaining further market share.
Download or read book Economic Growth and Trade Dependency in China written by Christopher Charles Findlay and published by . This book was released on 1996 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s Economic Growth Towards Sustainable Economic Development and Social Justice written by John Joshua and published by Springer. This book was released on 2016-12-02 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume book addresses the economic transformation occurring in China at present. The author investigates China's domestic and international policies, the impact of these policies on economic growth, and their effect on the quality of life for the people of China. In the first volume, the author distinguishes between economic growth and sustainable economic development, and discusses China's current and past economic policies towards growth. Chapters also explore the structural transformation of China's economy and its increasingly consumer-oriented nature. The second volume looks more specifically at the result of domestic policies on the quality of life for people living in China. The author examines the distribution of income, the alleviation of poverty, the Chinese education system, and the environmental cost of economic growth. These volumes will be of particular interest to researchers and scholars concerned with China's emerging economic power.
Download or read book China s Economy in Transition written by Mr.Anoop Singh and published by International Monetary Fund. This book was released on 2013-11-07 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's current account surplus has declined to around one-quarter the peak reached before the global financial crisis. While this is a major reduction in China's external imbalance, it has not been accompanied by a decisive shift toward consumption-based growth. Instead, the compression in its external surplus has been accomplished through increasing fixed investment so that it is now an even higher share of China's national economy. This increasing reliance on fixed investment as the main driver of China's growth raises questions about the durability of the compression in the external surplus and the sustainability of the current growth model that has had unprecedented success in lifting about 500 million people out of poverty over the last three decades. This volume examines various aspects of the rebalancing process underway in China, highlighting policy lessons for achieving stable, sustainable, and inclusive growth.
Download or read book China s Economic Growth and Transition written by Clement Allan Tisdell and published by Nova Publishers. This book was released on 1997 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains updated papers from an international conference held in Brisbane, Australia, centering on China's economic reforms and economic growth, regional issues and property rights in China, environmental issues and land use, and science and technology policies. Specific topics include China's market reforms and its new forms of scientific and business alliances, sustainable land use in the Three-Gorges area, and inter-village income inequality in China. Annotation copyrighted by Book News, Inc., Portland, OR
Download or read book How Important Is Exports and FDI for China s Economic Growth written by Yuqing Xing and published by . This book was released on 2013 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Financial Crisis and the recent slowdown of China's growth have led to questions about the sustainability of China's growth. The argument is that, China is too dependent on external demand and that it needs to “rebalance” its economy toward domestic consumption. However, conventional measures of external: net exports-over-GDP and exports-over-GDP are biased and do not accurately measure the contribution of external demand to GDP growth. In this paper, we propose two measures that are simple modifications of the conventional measures. We argue that our proposed measures provide a more accurate estimate of the vulnerability of China's economy to external shocks, in the form of exports and FDI. Our estimates show that in 2001, exports and FDI accounted for 18.2% of GDP growth and by 2004 the share rose to 49 percent. During 2005-2007, the contribution of exports and FDI to growth remained in the range of 38-40 percent. Our estimates also show that the impressive recovery of the Chinese economy in the post-crisis period owed at least 53% of its growth to exports and FDI. Based on these results, we conclude that the Chinese economy remains highly dependent on external demand in the form of exports and FDI, and re-balancing the economy towards domestic demand has not been achieved yet.
Download or read book China written by Ross Garnaut and published by Asia Pacific Press. This book was released on 2004 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: So important is China to the international economy that its recent announcement of its plans to reduce demand and growth sent a shudder through global financial markets. People are asking whether China's strong growth, which has continued now for a quarter of a century despite many challenges, is sustainable. The question matters not only for China, but also for the regional, as well as the global, economy. This book approaches the question of the sustainability of Chinese growth from a number of perspectives, with contributions from leading analysts on the Chinese economy based in Australia and China.
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 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 How Dependent is the Chinese Economy on Exports and in what Sense Has Its Growth Been Export led written by Dong He and published by . This book was released on 2010 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper studies the interaction between foreign trade and domestic demand and supply in China's economic transformation. It compares China's export dependency with other economies using input-output analysis. The paper also conducts econometric analysis of provincial level data to examine causality between the growth of foreign trade and components of domestic demand, and causality between the growth of foreign trade and total factor productivity. The main message is that China's export dependency is significantly lower than implied by the headline exports-to-GDP ratio. Moreover, the contribution of export to economic growth in China came mainly from its impact on total factor productivity growth from a supply perspective rather than its multiplier effect from a demand perspective. This relationship was found to be stronger in the more developed coastal areas than in the less developed inland areas."--Abstract.
Download or read book China s Growth and Integration Into the World Economy written by Eswar Prasad and published by International Monetary Fund. This book was released on 2004-06-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.
Download or read book Sustainable Economic Development written by Vasilii Erokhin and published by MDPI. This book was released on 2020-12-15 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a pivotal publication that addresses the contemporary challenges of globalization and elaborate policy responses to environmental pollution, climate change, economic disruptions, poverty, hunger, and other threats to sustainable economic development. Many parts of the world, territories, and societies are now changing at an unprecedented pace in ways that fundamentally affect the markets, people, the environment, and biodiversity. Such changes are primarily driven by rapid social and economic developments, economic disparities between countries, the internationalization of production and value chains, and industrialization. Increasingly frequently, business interests are interfering with sustainable development goals. The issue is how to converge the economic benefits with the urgent need for establishing resilient production chains, social networks, sustainably-operating markets, and environmental protection. This publication highlights the need for the balanced economic development and comprehensive coverage of many sustainability–business areas. Economic, production, financial, and social factors of sustainability are discussed by over 90 contributors representing 40 universities and research institutions from seven countries. Their findings are translated into workable approaches and policies for the benefit of the global economy, people, and the environment.
Download or read book Exports Inflation and Growth written by Thorvaldur Gylfason and published by International Monetary Fund. This book was released on 1997-09-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies some of the main determinants of exports and economic growth in cross-sectional data from the World Bank, covering 160 countries in the period 1985-1994. First, the linkages between the propensity to export and population, per capita income, agriculture, primary exports, and inflation are studied by statistical methods. Then, the relationship between economic growth and some of the above-mentioned determinants of exports and investment are scrutinized the same way. The main conclusion is that, in the period under review, high inflation and an abundance of natural resources tended to be associated with low exports and slow growth.
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 Surpassing the Middle Income Trap written by Shaojie Zhou and published by Palgrave Macmillan. This book was released on 2020-10-06 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.
