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 The Belt Road and Beyond written by Min Ye and published by Cambridge University Press. This book was released on 2020-03-05 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This investigation uses state-mobilized globalization as a framework to understand China's capitalism and emergence as a global power.

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 China s Financing in Latin America and the Caribbean written by Enrique Dussel Peters and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of China s Belt and Road Initiative written by Jeremy Garlick and published by Routledge. This book was released on 2019-11-15 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book merges macro- and micro-level analysis of the Belt and Road Initiative (BRI) to dissect China’s aim in creating an integrated Eurasian continent through this single mega-project. BRI has been the source of much interest and confusion, as established frameworks of analysis seek to understand China’s intentions behind the policy. China’s international activity in the early 21st century has not yet been successfully theorised by IR scholars because of a failure to satisfactorily encompass its complexity. In addition, the mix-and-match syncretism of the Chinese approach to foreign policy has been under-emphasised or omitted in many analyses. Bringing together complexity thinking and analytic eclecticism to assess the degree to which this scheme can transform international relations, Garlick critically examines this large-scale interconnectivity project and its potential impacts. The book will be of interest to scholars and practitioners in the field of international relations and China studies including academics, policy-makers and diplomats around the world.

Download or read book BRI and International Cooperation in Industrial Capacity written by Xu Shaoshi and published by Routledge. This book was released on 2020-06-14 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: BRI and International Production Capacity Cooperation: Industrial Layout conducts analysis on China’s advantageous surplus capacity of various industries and measures for optimizing their overseas layout with experience on production capacity cooperation of home and abroad, providing a wealth of information for a thorough understanding on relevant areas to domestic and foreign investors.

Download or read book China s Grand Strategy written by Andrew Scobell and published by Rand Corporation. This book was released on 2020-07-27 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.

Download or read book State and Market in Contemporary China written by Scott Kennedy and published by Rowman & Littlefield. This book was released on 2016-03-22 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The short essays in this volume, contributed by leading experts on Chinese economic policy, provide crisp and insightful analyses of the Chinese state's approach toward markets, the role of key actors and institutions, the evolving nature of industrial policy and the effectiveness of China’s international commitments to constrain such practices, and a preview of the likely contents and significance of China’s 13th Five-Year Plan.

Download or read book China s Belt and Road A Game Changer written by Alessia Amighini (a cura di) and published by Edizioni Epoké. This book was released on 2017-07-11 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Officially announced by Xi Jinping in 2013, the Belt and Road Initiative (BRI) has since become the centrepiece of China’s economic diplomacy. It is a commitment to ease bottlenecks to Eurasian trade by improving and building networks of connectivity across Central and Western Asia, where the BRI aims to act as a bond for the projects of regional cooperation and integration already in progress in Southern Asia. But it also reaches out to the Middle East as well as East and North Africa, a truly strategic area where the Belt joins the Road. Europe, the end-point of the New Silk Roads, both by land and by sea, is the ultimate geographic destination and political partner in the BRI. This report provides an in-depth analysis of the BRI, its logic, rationale and implications for international economic and political relations.

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 Belt and Road Industrial and Spatial Coordinated Development written by Wei Liu and published by Springer Nature. This book was released on 2022-09-13 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book mainly addresses China's Belt and Road Initiative in terms of the connectivity industrial and spatial development, as well as current world's economic and trade pattern under such synergy development, and focuses on the function and mechanism of industry and geography coordination. Although current research on the value circulation between China and developed economies is relatively adequate, the book focuses on the value circulation between the countries and regions, especially the developing economies. China and other developing countries tie strongly with the production value circulation. The coordination industrial and spatial development in the global value cycle is also the cornerstone of long-term stabilization and sustainable development in China. Therefore, this book provides the theoretical and empirical research on Belt and Road from the perspectives on industrial and spatial synergy. This book proposes several questions: Any inherent inlay between industrial and geographic allocation, i.e., is there any possibility for close integration? This book analyzes the necessity of coordinated development of industry and space perspective of production division. Secondly, from the perspective of historical evolution and current situation, it analyzes the relationship among industry, economic growth and fluctuation and compares realizing paths of synergy of industrial and spatial development. It contains the industry and spatial diffusion mechanism and the effect of synergy development. Moreover, the corresponding policy implication is provided for sustainable development through the Belt and Road Initiative.

Download or read book China Goes Global written by David Shambaugh and published by Oxford University Press. This book was released on 2013-01-18 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most global citizens are well aware of the explosive growth of the Chinese economy. Indeed, China has famously become the "workshop of the world." Yet, while China watchers have shed much light on the country's internal dynamics--China's politics, its vast social changes, and its economic development--few have focused on how this increasingly powerful nation has become more active and assertive throughout the world. In China Goes Global, eminent China scholar David Shambaugh delivers the book that many have been waiting for--a sweeping account of China's growing prominence on the international stage. Thirty years ago, China's role in global affairs beyond its immediate East Asian periphery was decidedly minor and it had little geostrategic power. Today however, China's expanding economic power has allowed it to extend its reach virtually everywhere--from mineral mines in Africa, to currency markets in the West, to oilfields in the Middle East, to agribusiness in Latin America, to the factories of East Asia. Shambaugh offers an enlightening look into the manifestations of China's global presence: its extensive commercial footprint, its growing military power, its increasing cultural influence or "soft power," its diplomatic activity, and its new prominence in global governance institutions. But Shambaugh is no alarmist. In this balanced and well-researched volume, he argues that China's global presence is more broad than deep and that China still lacks the influence befitting a major world power--what he terms a "partial power." He draws on his decades of China-watching and his deep knowledge of the subject, and exploits a wide variety of previously untapped sources, to shed valuable light on China's current and future roles in world affairs.

Download or read book China s Industrial Development In The 21st Century written by Hong Yu and published by World Scientific. This book was released on 2011-02-18 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique book intends to provide a focused analysis of the main Chinese industrial sectors through case studies, data analysis and review of new state-initiated policies. In response to the global economic crisis in the short run and to cope with the existing structural problems of production in the long run, the Chinese central government has successively released new development outlines for 10 key industries since 2008. In this book, the authors will use key sectors including automobile, steel, shipbuilding, high-speed railway and new energy, to analyze the development of China's industries, along with their challenges and future prospects.The effectiveness of state-oriented policies in rejuvenating these industries will be evaluated. After discussing the background and motivations for the new government-initiated policies, through detailed analysis of these policies, the authors will assess the contribution they have made to industrial development. The authors will also identify and analyze existing and potential challenges to sustainable development of China's industries.How did the industries respond to climate change and the development of a low-carbon economy in China? What measures have been taken by these industries to reduce greenhouse gas (GHG) emission and reduce overall energy consumption? What are the latest developments in China's industrial sector in terms of technological progress and upgrading? What are the potential challenges facing the industrial sector in the post-economic crisis era? This study intends to address these issues.

Download or read book China s Uneven and Combined Development written by Steven Rolf and published by Springer Nature. This book was released on 2020-10-15 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book mobilises the theory of uneven and combined development to uncover the geopolitical economic drivers of China’s rise. The purpose is to explain the formation and trajectory of its economic ‘accumulation system’ — which remains a confounding hybrid of statist and neoliberal forms of capitalism — as the outcome of China’s geopolitical engagement of the USA during the late stages of the Cold War, and its participation in manufacturing global production networks (GPNs). Fear of geopolitical catastrophe drove China to open its economy, while GPNs enabled China to generate substantial export surpluses which could be recycled through state-owned banks as cheap credit and subsidies to large, vertically integrated and politically-controlled state-owned enterprises. In this way, a synergy emerged between the ‘neoliberal’ and ‘Keynesian-Fordist’ sectors of the economy, while the national-territorial state retained its form and expanded its functions. The book chronicles how this reliance on export surpluses, however, rendered China extremely vulnerable to external shocks — prompting a dramatic monetary and fiscal stimulus response to the crisis of 2008, even while sustaining the illusion of economic ‘decoupling’ from the global economy. Finally, it examines the growing role of the state in the current crisis-ridden economic model, as well as China’s current geoeconomic and geopolitical expansionism in areas such as the Belt and Road Initiative and the militarisation of the East and South China Seas.

Download or read book China s Engagement with the Islamic Nations written by Young-Chan Kim and published by Springer Nature. This book was released on 2023-07-04 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical insight into China's evolving socio-cultural relations with Islamic countries in the face of growing geopolitical uncertainty. It considers both the historical and socioeconomic aspects of China-Islamic countries relations to present a balanced analysis of the effectiveness of the Belt and Road Initiative (BRI) plan and the current and future evolution of cooperation. The book also sheds new light of the impact on individual economic sectors, considering both the micro- and macro-effects on various stakeholders as the global community navigates an increasingly precarious power struggle between dominant world powers. The book presents contributions from a variety of fields to provide a multi-faceted breakdown of the challenges that remain for the myriad of relationships in the years to come.

Download or read book Catch up Industrialization written by Akira Suehiro and published by NUS Press. This book was released on 2008 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Catch-Up Industrialization is an innovative examination of how the political ideology of 'developmentalism' has driven East Asian economic growth. The author considers innovative production and management techniques, the patterns of industrial relations, and the way education shapes the workforce, using this information to assess late 20th century East Asian economic development based on economic liberalization and the rapid diffusion of information technology.The term 'catch-up' links developing and developed countries, and defines the socioeconomic mindset common to high-growth societies of Asia. The author's argument differs from neoclassical approaches emphasizing the workings of the market, statist ones emphasizing policy rather than private initiatives, business studies lacking macroeconomic and global perspectives, work by development economists based on agriculture, and World BankIMF studies that lack socio-cultural and historical understanding.

Download or read book China and Africa written by Richard Schiere and published by . This book was released on 2011 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: