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 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 Economy of Communist China 1949 1969 written by Chu-yuan Cheng and published by University of Michigan Press. This book was released on 2020-08-06 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic development in mainland China during the first two decades of Communist control provides a typical example for the difficult task to transform a vast underdeveloped agrarian economy into a modern industrial one. In the first half of this period, a series of massive transformations of social and economic institutions was accompanied by a drafted industrialization program; the result was an impressive speed-up in economic growth. The second decade witnessed an economic crisis (1960–62) and a political upheaval (1966–68). These disruptions marred the economic performance over the period as a whole. Consequently, the long-term growth rate appears to have been only moderate. The Economy of Communist China reviews selected aspects of the economy. After examining the development strategy, it analyzes the quantitative trends and the structural changes. The book goes on to analyze the key factors contributing to the earlier growth and the elements responsible for the later disruption and finally assesses the impact of the Cultural Revolution on the Chinese economy and the prospects of the current Third Five-Year Plan. The text includes a bibliography of selected materials on Chinese economic development.

Download or read book China s Economic Conditions written by Wayne M. Morrison and published by DIANE Publishing. This book was released on 2010-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the initiation of economic reforms and trade liberalization 30 years ago, China has been one of the world¿s fastest-growing economies and has emerged as a major economic and trade power. China¿s economy and economic policies are of major concern to many U.S. policymakers. Contents of this report: Most Recent Developments; An Overview of China¿s Economic Development; Measuring the Size of China¿s Economy; Foreign Direct Investment in China; China¿s Trade Patterns; China¿s Growing Overseas Direct Investment; Major Long-Term Challenges Facing the Chinese Economy; Fallout From the Current Global Financial Crisis. Charts and tables.

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 The Economic Transformation of China written by Dwight Heald Perkins and published by World Scientific Publishing Company Incorporated. This book was released on 2014-09-12 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic Transformation of China is a collection of essays written by an eminent observer of the Chinese economy. The book covers the Chinese transformation beginning in the 1950s and continuing through the second decade of the twenty-first century. It includes an analysis of the forces that held China back before 1949, the nature of the economy as it operated under the Soviet model of development, and the transformation since 1978 into a “socialist market economy.” The essays of the post-1978 era reflect the author's view of the state of the reform effort at the time the essay was written and carries the story up to the 2012–2013 slowdown in economic growth.

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 The Statistical System of Communist China written by Choh-Ming Li and published by University of California Press. This book was released on 2021-01-08 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most baffling problems in contemporary Chinese economic studies concerns the validity of official statistics. In the continuing discussion of claims and counter-claims, appeals to common sense are unconvincing. Because of the pressing need for substantial evidence on which to base a judgment, the present inquiry is an important contribution to the literature on Communist China. The book provides a quizzical but objective look at the statistical system of the country, and attempts to appraise the quality of official statistics by analyzing the development and inner working of the sytem. Its approach is broadly historical, beginning with the pre-Communist period (before 1949) and dividing the next dozen years into phases: the foundation of the state statistical system (1952 - 57), the period of decentralization (1958 - 59), and subsequent efforts at reorganization. Li's study of the development of a national statistical system in China is particularly instructive in delineating both the obstacles to such development that may be expected in a densely populated, largely agricultural country and the measure that have been adopted to overcome them. Therefore his hard-headed conclusions concerning the Chinese experience should be of lively intrest in those underdeveloped countries that are now planning or executing development programs. 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 1962.

Download or read book Mao s Great Famine written by Frank Dikötter and published by Bloomsbury Publishing USA. This book was released on 2010-10-01 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Samuel Johnson Prize An unprecedented, groundbreaking history of China's Great Famine that recasts the era of Mao Zedong and the history of the People's Republic of China. "Between 1958 and 1962, China descended into hell. Mao Zedong threw his country into a frenzy with the Great Leap Forward, an attempt to catch up to and overtake Britain in less than 15 years The experiment ended in the greatest catastrophe the country had ever known, destroying tens of millions of lives." So opens Frank Dikötter's riveting, magnificently detailed chronicle of an era in Chinese history much speculated about but never before fully documented because access to Communist Party archives has long been restricted to all but the most trusted historians. A new archive law has opened up thousands of central and provincial documents that "fundamentally change the way one can study the Maoist era." Dikötter makes clear, as nobody has before, that far from being the program that would lift the country among the world's superpowers and prove the power of Communism, as Mao imagined, the Great Leap Forward transformed the country in the other direction. It became the site not only of "one of the most deadly mass killings of human history,"--at least 45 million people were worked, starved, or beaten to death--but also of "the greatest demolition of real estate in human history," as up to one-third of all housing was turned into rubble). The experiment was a catastrophe for the natural world as well, as the land was savaged in the maniacal pursuit of steel and other industrial accomplishments. In a powerful mesghing of exhaustive research in Chinese archives and narrative drive, Dikötter for the first time links up what happened in the corridors of power-the vicious backstabbing and bullying tactics that took place among party leaders-with the everyday experiences of ordinary people, giving voice to the dead and disenfranchised. His magisterial account recasts the history of the People's Republic of China.

Download or read book A Social History of Maoist China written by Felix Wemheuer and published by Cambridge University Press. This book was released on 2019-03-28 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new social history of Maoist China provides an accessible view of the complex and tumultuous period when China came under Communist rule.

Download or read book The Chinese Economy written by Barry Naughton and published by MIT Press. This book was released on 2007 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive English-language overview of the modern Chinese economy, covering China's economic development since 1949 and post-1978 reforms--from industrial change and agricultural organization to science and technology.

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 The Cultural Revolution written by Frank Dikötter and published by Bloomsbury Press. This book was released on 2017-06-06 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concluding volume--following Mao's Great Famine and The Tragedy of Liberation--in Frank Dikötter's award-winning trilogy chronicling the Communist revolution in China. After the economic disaster of the Great Leap Forward that claimed tens of millions of lives from 1958–1962, an aging Mao Zedong launched an ambitious scheme to shore up his reputation and eliminate those he viewed as a threat to his legacy. The Cultural Revolution's goal was to purge the country of bourgeois, capitalistic elements he claimed were threatening genuine communist ideology. Young students formed the Red Guards, vowing to defend the Chairman to the death, but soon rival factions started fighting each other in the streets with semiautomatic weapons in the name of revolutionary purity. As the country descended into chaos, the military intervened, turning China into a garrison state marked by bloody purges that crushed as many as one in fifty people. The Cultural Revolution: A People's History, 1962–1976 draws for the first time on hundreds of previously classified party documents, from secret police reports to unexpurgated versions of leadership speeches. After the army itself fell victim to the Cultural Revolution, ordinary people used the political chaos to resurrect the market and hollow out the party's ideology. By showing how economic reform from below was an unintended consequence of a decade of violent purges and entrenched fear, The Cultural Revolution casts China's most tumultuous era in a wholly new light.

Download or read book The Chinese Economy Under Maoism written by Andrew M. Greeley and published by Routledge. This book was released on 2017-07-05 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over sixty years have elapsed since the Communists gained control of the Chinese mainland. The years between 1949 and 1969 were a time of constant change and periodic cataclysm-the initial purges, the Great Leap Forward, and the Cultural Revolution-all bound up with the Communist conception of how to move the country into modernity in the shortest possible time. The Chinese Economy under Maoism summarizes and evaluates the economic consequences of the Communist path to development in a concise, factual presentation that can be readily comprehended by non-economists. The authors review the major features of the Chinese economy prior to the Communist takeover and discuss the policies, performance, and problems of the individual sectors of the Chinese economy during its initial years under Communism. Included in their review are industry, agriculture, foreign trade, resource allocation, population, employment, and living standards. A concluding chapter summarizes Chinese economic growth and presents a discussion of future policy alternatives and an optimum economic policy for China. Based on important findings of Western scholars, with many original interpretations by the authors, this material is presented from a developmental point of view. Since it was originally published in 1972, sections of the book devoted to comparative studies of progress in India and the former Soviet regime will be of particular interest now. Free of technical language and providing insights into the economy of one of the most important countries in the world, this book will be useful not only to economists but to a broad range of sinologists, political scientists, sociologists, and historians interested in the path of revolution.

Download or read book An Urban History of China written by Toby Lincoln and published by Cambridge University Press. This book was released on 2021-05-20 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this accessible new study, Toby Lincoln offers the first history of Chinese cities from their origins to the present. Despite being an agricultural society for thousands of years, China had an imperial urban civilization. Over the last century, this urban civilization has been transformed into the world's largest modern urban society. Throughout their long history, Chinese cities have been shaped by interactions with those around the world, and the story of urban China is a crucial part of the history of how the world has become an urban society. Exploring the global connections of Chinese cities, the urban system, urban governance, and daily life alongside introductions to major historical debates and extracts from primary sources, this is essential reading for all those interested in China and in urban history.

Download or read book China s Economy in Global Perspective written by A. Doak Barnett and published by Washington, D.C. : Brookings Institution. This book was released on 1981 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the re-orientation of China's economic policy since 1977 towards rapid modernization based on "market socialism" and expansion of external economic relations - evaluates foreign policy changes, forecasts prospects in the 1980s for trade and economic growth, and discusses technology imports, international relations, international borrowing, role in world food and energy balances, trade relations and technology transfer prospects for developed countries, partic. USA, and international organizations, etc. References and statistical tables.

Download or read book China s Continuous Revolution written by Lowell Dittmer and published by Univ of California Press. This book was released on 1989-01-01 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: