Journey To The Peoples Republic Of China Review Analysis

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Journey to the People's Republic of China; Review & Analysis

Author : Kalman Dubov
Publisher : Kalman Dubov
ISBN 13 :
Total Pages : pages
Book Rating : 4./5 ( download)

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Book Synopsis Journey to the People's Republic of China; Review & Analysis by : Kalman Dubov

Download or read book Journey to the People's Republic of China; Review & Analysis written by Kalman Dubov and published by Kalman Dubov. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: On a Holland America Grand Voyage aboard the flagship Amsterdam, I had the great fortune of visiting the ancient land of China, now known as the People's Republic of China. This visit enabled me to, for the first time, to walk part of the way of the Great Wall, visit the Old Summer Palace and see Tien An Men Square and the Forbidden City. Besides visiting the capital city, the ship also visited Shanghai and Hong Kong. China is a huge country whose history goes back millennia. The places we visited provided but a glimpse of that history and its current politics. In this volume, I review China's ancient history, with an overview of the many dynasties that made China great. For many years, China stood at the forefront of technological and scientific discovery, known today as the Four Great Discoveries - the compass, making paper, gunpowder, and printing. Each of these transformed the world, in its own way. Yet, the advancement of science and technology did not stay in China. The great conundrum today is exploring the reasons China lost its ability to stand at the helm of such advancement. I explore this issue while reviewing the complexities of how China lived, both in its dynastic and modern periods. Ancient China had civil service examinations as a method to identify the best and brightest minds and then to employ them for service to the emperor. Jinshi, the highest and most difficult examination was so complicated, the successful candidates' name was inscribed on stone, then selected to remain in Beijing in service to the emperor. Such examinations later migrated to other countries in the Far East, then to the West, where it is in common use today. China and its millennium-long history reflect an ancient people who today seek to assert their presence and power on the world stage. Prior to its current form of government, it was forced to capitulate to Western colonial powers. Revolts by the Chinese against such foreign intervention resulted in the Opium Wars, the loss of Hong Kong, and the destruction of its Old Summer Palace. I explore China's bitter past, together with its current belligerence on the world stage as it seeks to redevelop and transform itself, from the ancient Silk Road into the modern OBOR - One Belt; One Road with dramatic effect on many peoples and nations. I also noted the conundrum of seeing tall high-rise clusters of apartment buildings, structures that could house thousands of people, but stand completely empty. Passing these buildings at night was eerie; not a single light or human is visible anywhere. The claim of a surging China, at least in the places I visited, made me wonder if the building boom the media and economists claim is but a bubble, soon to evaporate in the glare of inquiry and reality. Nonetheless, this visit was dramatic in its own way, offering many varieties of the different strata of this complex society. During this visit, I explored the Jewish community, first in Shanghai, then in Hong Kong. Several Jewish passengers joined to attend the Sabbath Service at the Chabad House. We were warmly welcomed and saw a robust community in this remote part of the world. In Hong Kong, we visited several synagogues, noting the pride and activity present in these communities. I explore the history of the Jewish community in these centers, with a special interest in the Jewish ‘Ghetto’ of Shanghai where thousands of European Jews were sheltered during the Nazi’s Final Solution. They were given refuge in Shanghai, and the area they lived in is still visible by way of a museum and plaques indicating where they lived and survived the war years. The enormity of China demands a multi-volume effort to do justice to its geography and history. This is but a small contribution of this ancient land.

Mao's China and the Cold War

Author : Jian Chen
Publisher : Univ of North Carolina Press
ISBN 13 : 0807898902
Total Pages : 415 pages
Book Rating : 4.8/5 (78 download)

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Book Synopsis Mao's China and the Cold War by : Jian Chen

Download or read book Mao's China and the Cold War written by Jian Chen and published by Univ of North Carolina Press. This book was released on 2010-03-15 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive study of China's Cold War experience reveals the crucial role Beijing played in shaping the orientation of the global Cold War and the confrontation between the United States and the Soviet Union. The success of China's Communist revolution in 1949 set the stage, Chen says. The Korean War, the Taiwan Strait crises, and the Vietnam War--all of which involved China as a central actor--represented the only major "hot" conflicts during the Cold War period, making East Asia the main battlefield of the Cold War, while creating conditions to prevent the two superpowers from engaging in a direct military showdown. Beijing's split with Moscow and rapprochement with Washington fundamentally transformed the international balance of power, argues Chen, eventually leading to the end of the Cold War with the collapse of the Soviet Empire and the decline of international communism. Based on sources that include recently declassified Chinese documents, the book offers pathbreaking insights into the course and outcome of the Cold War.

The Long Game

Author : Rush Doshi
Publisher : Oxford University Press
ISBN 13 : 0197527876
Total Pages : 433 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis The Long Game by : Rush Doshi

Download or read book The Long Game written by Rush Doshi and published by Oxford University Press. This book was released on 2021-06-11 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more than a century, no US adversary or coalition of adversaries - not Nazi Germany, Imperial Japan, or the Soviet Union - has ever reached sixty percent of US GDP. China is the sole exception, and it is fast emerging into a global superpower that could rival, if not eclipse, the United States. What does China want, does it have a grand strategy to achieve it, and what should the United States do about it? In The Long Game, Rush Doshi draws from a rich base of Chinese primary sources, including decades worth of party documents, leaked materials, memoirs by party leaders, and a careful analysis of China's conduct to provide a history of China's grand strategy since the end of the Cold War. Taking readers behind the Party's closed doors, he uncovers Beijing's long, methodical game to displace America from its hegemonic position in both the East Asia regional and global orders through three sequential "strategies of displacement." Beginning in the 1980s, China focused for two decades on "hiding capabilities and biding time." After the 2008 Global Financial Crisis, it became more assertive regionally, following a policy of "actively accomplishing something." Finally, in the aftermath populist elections of 2016, China shifted to an even more aggressive strategy for undermining US hegemony, adopting the phrase "great changes unseen in century." After charting how China's long game has evolved, Doshi offers a comprehensive yet asymmetric plan for an effective US response. Ironically, his proposed approach takes a page from Beijing's own strategic playbook to undermine China's ambitions and strengthen American order without competing dollar-for-dollar, ship-for-ship, or loan-for-loan.

China’s Grand Strategy

Author : Andrew Scobell
Publisher : Rand Corporation
ISBN 13 : 1977404200
Total Pages : 155 pages
Book Rating : 4.9/5 (774 download)

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Book Synopsis China’s Grand Strategy by : Andrew Scobell

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.

China's Path to Modernization

Author : Ranbir Vohra
Publisher : Pearson
ISBN 13 :
Total Pages : 348 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis China's Path to Modernization by : Ranbir Vohra

Download or read book China's Path to Modernization written by Ranbir Vohra and published by Pearson. This book was released on 2000 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revised and updated, this thoughtful, balanced and highly readable work provides a succinct, yet comprehensive and cohesive overview of China's path to modernization, preparing readers to understand the complex interaction between the Chinese cultural traditional and the internal and external pressures for change that led China onto the path of revolution and Communism. Evaluating the impact of Mao Ze-dong's thought and action on China's development, it explores the nature of Deng Xiao-ping's "second revolution" that reversed many of Maoist policies that put the country on the road to economic prosperity but which also created serious economic and political imbalances that will continue to plague China in the near future. Develops and sustains a narrative line not usually available in survey histories of China, presenting an internal coherence within each chapter that provides not only an integrated picture of political, cultural, and economic developments but also a convenient foundation to grasp the sequence of fundamental changes in China. Provides a brief summary of China's past history, focusing on the ideology and institutions that molded Chinese political culture. Covers critical transition periods, such as the collapse of the Manchu dynasty and the establishment of the first republic; the shift of power from the Nationalists to the Communists; and the rise of Deng Xiao-ping after the passing away of Mao Ze-dong. Expands coverage on many areas, including Tibet, PRC in Taiwan, and Hong Kong; the Sino-Indian war of 1962, and the Sino-Vietnamese war of 1979; plus social, economic, and cultural topics in various periods.

The Emperor Far Away

Author : David Eimer
Publisher : A&C Black
ISBN 13 : 140881322X
Total Pages : 337 pages
Book Rating : 4.4/5 (88 download)

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Book Synopsis The Emperor Far Away by : David Eimer

Download or read book The Emperor Far Away written by David Eimer and published by A&C Black. This book was released on 2014-01-01 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Far from the glittering cities of Beijing and Shanghai, China's borderlands are populated by around one hundred million people who are not Han Chinese. For many of these restive minorities, the old Chinese adage 'the mountains are high and the Emperor far away', meaning Beijing's grip on power is tenuous and its influence unwelcome, continues to resonate. Travelling through China's most distant and unknown reaches, David Eimer explores the increasingly tense relationship between the Han Chinese and the ethnic minorities. Deconstructing the myths represented by Beijing, Eimer reveals a shocking and fascinating picture of a China that is more of an empire than a country.

Migration in the Time of Revolution

Author : Taomo Zhou
Publisher : Cornell University Press
ISBN 13 : 1501739956
Total Pages : 365 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis Migration in the Time of Revolution by : Taomo Zhou

Download or read book Migration in the Time of Revolution written by Taomo Zhou and published by Cornell University Press. This book was released on 2019-10-15 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migration in the Time of Revolution examines how two of the world's most populous countries interacted between 1945 and 1967, when the concept of citizenship was contested, political loyalty was in question, identity was fluid, and the boundaries of political mobilization were blurred. Taomo Zhou asks probing questions of this important period in the histories of the People's Republic of China and Indonesia. What was it like to be a youth in search of an ancestral homeland that one had never set foot in, or an economic refugee whose expertise in private business became undesirable in one's new home in the socialist state? What ideological beliefs or practical calculations motivated individuals to commit to one particular nationality while forsaking another? As Zhou demonstrates, the answers to such questions about "ordinary" migrants are crucial to a deeper understanding of diplomatic relations between the two countries. Through newly declassified documents from the Chinese Foreign Ministry Archives and oral history interviews, Migration in the Time of Revolution argues that migration and the political activism of the ethnic Chinese in Indonesia were important historical forces in the making of governmental relations between Beijing and Jakarta after World War II. Zhou highlights the agency and autonomy of individuals whose life experiences were shaped by but also helped shape the trajectory of bilateral diplomacy. These ethnic Chinese migrants and settlers were, Zhou contends, not passively acted upon but actively responding to the developing events of the Cold War. This book bridges the fields of diplomatic history and migration studies by reconstructing the Cold War in Asia as social processes from the ground up.

How China Escaped Shock Therapy

Author : Isabella M. Weber
Publisher : Routledge
ISBN 13 : 042995395X
Total Pages : 256 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis How China Escaped Shock Therapy by : Isabella M. Weber

Download or read book How China Escaped Shock Therapy written by Isabella M. Weber and published by Routledge. This book was released on 2021-05-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.

Land Wars

Author : Brian J. DeMare
Publisher :
ISBN 13 : 9781503609518
Total Pages : 240 pages
Book Rating : 4.6/5 (95 download)

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Book Synopsis Land Wars by : Brian J. DeMare

Download or read book Land Wars written by Brian J. DeMare and published by . This book was released on 2019 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Land Wars: The Story of China's Agrarian Revolution explores how Mao's narrative of rural revolution became a reality, at great human cost.

Foreign Devils on the Silk Road

Author : Peter Hopkirk
Publisher : Oxford University Press, USA
ISBN 13 : 9780192802118
Total Pages : 286 pages
Book Rating : 4.8/5 (21 download)

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Book Synopsis Foreign Devils on the Silk Road by : Peter Hopkirk

Download or read book Foreign Devils on the Silk Road written by Peter Hopkirk and published by Oxford University Press, USA. This book was released on 2001 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Silk Road, which linked imperial Rome and distant China, was once the greatest thoroughfare on earth. Along it travelled precious cargoes of silk, gold, and ivory, as well as revolutionary new ideas. Its oasis towns blossomed into thriving centres of Buddhist art and learning. In time it began to decline. The traffic slowed, the merchants left, and finally its towns vanished beneath the desert sands to be forgotten for a thousand years. But legends grew up of lost cities filled with treasurees and guarded by demons. In the early years of the 20th century, foreign explorers began to investigate these legends, and very soon an international race began for the art treasures of the Silk Road. Huge wall paintings, sculptures, and priceless manuscripts were carried away, literally by the ton, and are today scattered through the museums of a dozen countries. Peter Hopkirk tells the story of the intrepid men who, at great personal risk, led these long-range archaeological raids, incurring the undying wrath of the Chinese.

Nixon and Mao

Author : Margaret MacMillan
Publisher : Random House
ISBN 13 : 158836576X
Total Pages : 426 pages
Book Rating : 4.5/5 (883 download)

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Book Synopsis Nixon and Mao by : Margaret MacMillan

Download or read book Nixon and Mao written by Margaret MacMillan and published by Random House. This book was released on 2007-02-13 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: Margaret MacMillan, praised as “a superb writer who can bring history to life” (The Philadelphia Inquirer), brings her extraordinary gifts to one of the most important subjects today–the relationship between the United States and China–and one of the most significant moments in modern history. In February 1972, Richard Nixon, the first American president ever to visit China, and Mao Tse-tung, the enigmatic Communist dictator, met for an hour in Beijing. Their meeting changed the course of history and ultimately laid the groundwork for the complex relationship between China and the United States that we see today. That monumental meeting in 1972–during what Nixon called “the week that changed the world”–could have been brought about only by powerful leaders: Nixon himself, a great strategist and a flawed human being, and Mao, willful and ruthless. They were assisted by two brilliant and complex statesmen, Henry Kissinger and Chou En-lai. Surrounding them were fascinating people with unusual roles to play, including the enormously disciplined and unhappy Pat Nixon and a small-time Shanghai actress turned monstrous empress, Jiang Qing. And behind all of them lay the complex history of two countries, two great and equally confident civilizations: China, ancient and contemptuous yet fearful of barbarians beyond the Middle Kingdom, and the United States, forward-looking and confident, seeing itself as the beacon for the world. Nixon thought China could help him get out of Vietnam. Mao needed American technology and expertise to repair the damage of the Cultural Revolution. Both men wanted an ally against an aggressive Soviet Union. Did they get what they wanted? Did Mao betray his own revolutionary ideals? How did the people of China react to this apparent change in attitude toward the imperialist Americans? Did Nixon make a mistake in coming to China as a supplicant? And what has been the impact of the visit on the United States ever since? Weaving together fascinating anecdotes and insights, an understanding of Chinese and American history, and the momentous events of an extraordinary time, this brilliantly written book looks at one of the transformative moments of the twentieth century and casts new light on a key relationship for the world of the twenty-first century.

China Tripping

Author : Jeremy A. Murray
Publisher : Rowman & Littlefield
ISBN 13 : 1538123711
Total Pages : 169 pages
Book Rating : 4.5/5 (381 download)

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Book Synopsis China Tripping by : Jeremy A. Murray

Download or read book China Tripping written by Jeremy A. Murray and published by Rowman & Littlefield. This book was released on 2019-02-08 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique book is the first to bring together a group of influential China experts to reflect on their cultural and social encounters while travelling and living in the People’s Republic. Filling an important gap, it allows scholars, journalists, and businesspeople to reflect on their personal memories of China. Private experiences—vivid and often entirely unanticipated—often teach more about how a society actually works than a planned course of study can. Such experiences can also expose the sometimes naïve misconceptions visitors often bring with them to China. China experts relate stories that are always interesting but also more: they tell not just anecdotes but telling anecdotes. Why are there no campus maps? (Because, if you don’t know where you’re going and why, you don’t need to be here.) What’s the allure of Mickey Mouse? (He could break all sorts of rules and get away with it.) What’s a sworn brother in China? (Somebody who fights for your honor even when you’re not looking.) Covering nearly a half-century from 1971 to the present, these stories open a vivid window on a rapidly evolving China and on the zigzag learning curve of the China trippers themselves.

Rebranding China

Author : Xiaoyu Pu
Publisher : Stanford University Press
ISBN 13 : 1503607860
Total Pages : 228 pages
Book Rating : 4.5/5 (36 download)

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Book Synopsis Rebranding China by : Xiaoyu Pu

Download or read book Rebranding China written by Xiaoyu Pu and published by Stanford University Press. This book was released on 2019-01-08 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is intensely conscious of its status, both at home and abroad. This concern is often interpreted as an undivided desire for higher standing as a global leader. Yet, Chinese political elites heatedly debate the nation's role as it becomes an increasingly important player in international affairs. At times, China positions itself not as a nascent global power but as a fragile developing country. Contradictory posturing makes decoding China's foreign policy a challenge, generating anxiety and uncertainty in many parts of the world. Using the metaphor of rebranding to understand China's varying displays of status, Xiaoyu Pu analyzes a rising China's challenges and dilemmas on the global stage. As competing pressures mount across domestic, regional, and international audiences, China must pivot between different representational tactics. Rebranding China demystifies how the state represents its global position by analyzing recent military transformations, regional diplomacy, and international financial negotiations. Drawing on a sweeping body of research, including original Chinese sources and interdisciplinary ideas from sociology, psychology, and international relations, this book puts forward an innovative framework for interpreting China's foreign policy.

The People's Republic of Amnesia

Author : Louisa Lim
Publisher : Oxford University Press, USA
ISBN 13 : 0199347700
Total Pages : 281 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The People's Republic of Amnesia by : Louisa Lim

Download or read book The People's Republic of Amnesia written by Louisa Lim and published by Oxford University Press, USA. This book was released on 2014 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: "One of the best analyses of the impact of Tiananmen throughout China in the years since 1989." --The New York Times Book Review

Hidden Hand

Author : Clive Hamilton
Publisher : Optimum Publishing International
ISBN 13 : 0888903081
Total Pages : 341 pages
Book Rating : 4.8/5 (889 download)

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Book Synopsis Hidden Hand by : Clive Hamilton

Download or read book Hidden Hand written by Clive Hamilton and published by Optimum Publishing International. This book was released on 2021-07-03 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Headline: The Globe and Mail: Legal challenge halts Canadian, U.S. and U.K. release of book critical of Chinese Communist Party by Robert Fife That said it all. The hands of the Chinese Communist Party were going on the offence. The 48 Group Club a China friendly group of former UK ambassadors and Prime Ministers were embarrassed by their connections to a Club founded by key members of the Chinese Communist Party of Britain who's chair Stephen Perry suggested that China's approach to world order and rule was superior to democracy and the UK should embrace them. Asked if he believed the lawsuit was an effort by the Chinese government to stop the publication of his book, Mr. Hamilton said: “I have no evidence of that, although it should be noted that the Chinese government has used lawfare in the past.” Lawfare is the use of legal action as part of a campaign against a target. Governments around the world are in the early stages of a repositioning of power, as China rises and the United States is drawn into direct competition. However, some are beginning to wonder whether, for all of the economic benefits, engaging with China carries unseen dangers. The Chinese Communist Party is now determined to reshape the world in its image. The party is not interested in democracy. It divides the world into those who can be won over and enemies. They have already lured many leaders to their corner; others are weighing up a devil's bargain. Through its exercise of ‘sharp power,’ the party is weakening global institutions, aggressively targeting individual corporations, and threatening freedom of expression from the arts to academia. At the same time, security services are increasingly worried about incursions into our communications infrastructure. Indeed, the vaunted Great Firewall is a temporary measure, only necessary until the party has transformed the global conversation. In December 2019, the CCP's obsession with social control led it to suppress expert warnings about the coronavirus outbreak in Wuhan. Most alarming for the West was the active collaboration of the WHO in spreading the CCP's version of events. It was a shocking example of the widespread co-optation of global institutions by the CCP, as described in Hidden Hand. As soon as Beijing thought it had the virus under control, it began a global propaganda blitz, presenting China's authoritarian system as a model for the rest of the world. Western media and pundits soon began echoing the Party line. Hidden Hand is a detailed and devastating expose of Chinese Communist Party influence in the West, including Canada. It could not arrive at a better time in Canada, with relations between Ottawa and Beijing reaching breaking point after two years of mounting tension. China's bullying behaviour, and the mobilising of people loyal to the Chinese Communist Party on the streets of Canada's cities, has caused deep disquiet among Canadians. But the government seems paralyzed. Hidden Hand shows how Canada's political, business, academic and cultural elites have over many years been co-opted by the Chinese Communist Party and its agencies. They are confused about what is in Canada's national interests and frequently do Beijing's bidding. Hidden Hand shows how the Chinese Communist Party represents a profound threat to Western democracy. It's vital reading for Canadians who want to understand what is really happening, and points to a way of carving out a new diplomatic course with China. But the question remains: Does the government have the will to stand up to Beijing and its proxies in Canada or is it too late?

The China Order

Author : Fei-Ling Wang
Publisher : State University of New York Press
ISBN 13 : 1438467508
Total Pages : 344 pages
Book Rating : 4.4/5 (384 download)

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Book Synopsis The China Order by : Fei-Ling Wang

Download or read book The China Order written by Fei-Ling Wang and published by State University of New York Press. This book was released on 2017-08-07 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: What does the rise of China represent, and how should the international community respond? With a holistic rereading of Chinese longue durée history, Fei-Ling Wang provides a simple but powerful framework for understanding the nature of persistent and rising Chinese power and its implications for the current global order. He argues that the Chinese ideation and tradition of political governance and world order—the China Order—is based on an imperial state of Confucian-Legalism as historically exemplified by the Qin-Han polity. Claiming a Mandate of Heaven to unify and govern the whole known world or tianxia (all under heaven), the China Order dominated Eastern Eurasia as a world empire for more than two millennia, until the late nineteenth century. Since 1949, the People's Republic of China has been a reincarnated Qin-Han polity without the traditional China Order, finding itself stuck in the endless struggle against the current world order and the ever-changing Chinese society for its regime survival and security. Wang also offers new discoveries and assessments about the true golden eras of Chinese civilization, explains the great East-West divergence between China and Europe, and analyzes the China Dream that drives much of current Chinese foreign policy.

China's Economic Rise

Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781976466953
Total Pages : 52 pages
Book Rating : 4.4/5 (669 download)

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Book Synopsis China's Economic Rise by : Congressional Research Service

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.