The China Shock

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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interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization.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.

The Shock Doctrine

Author : Naomi Klein
Publisher : Metropolitan Books
ISBN 13 : 1429919485
Total Pages : 721 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis The Shock Doctrine by : Naomi Klein

Download or read book The Shock Doctrine written by Naomi Klein and published by Metropolitan Books. This book was released on 2010-04-01 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bestselling author of No Logo shows how the global "free market" has exploited crises and shock for three decades, from Chile to Iraq In her groundbreaking reporting, Naomi Klein introduced the term "disaster capitalism." Whether covering Baghdad after the U.S. occupation, Sri Lanka in the wake of the tsunami, or New Orleans post-Katrina, she witnessed something remarkably similar. People still reeling from catastrophe were being hit again, this time with economic "shock treatment," losing their land and homes to rapid-fire corporate makeovers. The Shock Doctrine retells the story of the most dominant ideology of our time, Milton Friedman's free market economic revolution. In contrast to the popular myth of this movement's peaceful global victory, Klein shows how it has exploited moments of shock and extreme violence in order to implement its economic policies in so many parts of the world from Latin America and Eastern Europe to South Africa, Russia, and Iraq. At the core of disaster capitalism is the use of cataclysmic events to advance radical privatization combined with the privatization of the disaster response itself. Klein argues that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the violent culmination of a radical economic project that has been incubating for fifty years.

On the Persistence of the China Shock

Author : David H. Autor
Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis On the Persistence of the China Shock by : David H. Autor

Download or read book On the Persistence of the China Shock written by David H. Autor and published by . This book was released on 2021 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract We evaluate the duration of the China trade shock and its impact on a wide range of outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of its effects for nearly a decade past its culmination. Adverse impacts of import competition on manufacturing employment, overall employment-population ratios, and income per capita in more trade-exposed U.S. commuting zones are present out to 2019. Over the full study period, greater import competition implies a reduction in the manufacturing employment-population ratio of 1.54 percentage points, which is 55% of the observed change in the value, and the absorption of 86% of this net job loss via a corresponding decrease in the overall employment rate. Reductions in population headcounts, which indicate net out-migration, register only for foreign-born workers and the native-born 25-39 years old, implying that exit from work is a primary means of adjustment to trade-induced contractions in labor demand. More negatively affected regions see modest increases in the uptake of government transfers, but these transfers primarily take the form of Social Security and Medicare benefits. Adverse outcomes are more acute in regions that initially had fewer college-educated workers and were more industrially specialized. Impacts are qualitatively--but not quantitatively--similar to those caused by the decline of employment in coal production since the 1980s, indicating that the China trade shock holds lessons for other episodes of localized job loss. Import competition from China induced changes in income per capita across local labor markets that are much larger than the spatial heterogeneity of income effects predicted by standard quantitative trade models. Even using higher-end estimates of the consumer benefits of rising trade with China, a substantial fraction of commuting zones appears to have suffered absolute declines in average real incomes.

Schism

Author : Paul Blustein
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 1928096867
Total Pages : 249 pages
Book Rating : 4.9/5 (28 download)

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Book Synopsis Schism by : Paul Blustein

Download or read book Schism written by Paul Blustein and published by McGill-Queen's Press - MQUP. This book was released on 2019-09-10 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.

On the Persistence of the China Shock

Author : David Autor
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis On the Persistence of the China Shock by : David Autor

Download or read book On the Persistence of the China Shock written by David Autor and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract We evaluate the duration of the China trade shock and its impact on a wide range of outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of its effects for nearly a decade past its culmination. Adverse impacts of import competition on manufacturing employment, overall employment-population ratios, and income per capita in more trade-exposed U.S. commuting zones are present out to 2019. Over the full study period, greater import competition implies a reduction in the manufacturing employment-population ratio of 1.54 percentage points, which is 55% of the observed change in the value, and the absorption of 86% of this net job loss via a corresponding decrease in the overall employment rate. Reductions in population headcounts, which indicate net out-migration, register only for foreign-born workers and the native-born 25-39 years old, implying that exit from work is a primary means of adjustment to trade-induced contractions in labor demand. More negatively affected regions see modest increases in the uptake of government transfers, but these transfers primarily take the form of Social Security and Medicare benefits. Adverse outcomes are more acute in regions that initially had fewer college-educated workers and were more industrially specialized. Impacts are qualitatively--but not quantitatively--similar to those caused by the decline of employment in coal production since the 1980s, indicating that the China trade shock holds lessons for other episodes of localized job loss. Import competition from China induced changes in income per capita across local labor markets that are much larger than the spatial heterogeneity of income effects predicted by standard quantitative trade models. Even using higher-end estimates of the consumer benefits of rising trade with China, a substantial fraction of commuting zones appears to have suffered absolute declines in average real incomes.

The China Shock

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (944 download)

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Book Synopsis The China Shock by :

Download or read book The China Shock written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

CultureShock! China

Author : Angin Eagan
Publisher : Marshall Cavendish International Asia Pte Ltd
ISBN 13 : 9814346802
Total Pages : 322 pages
Book Rating : 4.8/5 (143 download)

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Book Synopsis CultureShock! China by : Angin Eagan

Download or read book CultureShock! China written by Angin Eagan and published by Marshall Cavendish International Asia Pte Ltd. This book was released on 2011-02-15 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Shock of the Global

Author : Niall Ferguson
Publisher : Belknap Press
ISBN 13 : 0674061861
Total Pages : 449 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis The Shock of the Global by : Niall Ferguson

Download or read book The Shock of the Global written by Niall Ferguson and published by Belknap Press. This book was released on 2011 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title examines the large-scale structural upheaval of the 1970s by transcending the standard frameworks of national borders and superpower relations. It reveals an international system in the throes of enduring transformations.

China and ASEAN: Pivoting Trade and Shock Transmission

Author : Mala Raghavan
Publisher : Springer Nature
ISBN 13 : 9811616183
Total Pages : 114 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis China and ASEAN: Pivoting Trade and Shock Transmission by : Mala Raghavan

Download or read book China and ASEAN: Pivoting Trade and Shock Transmission written by Mala Raghavan and published by Springer Nature. This book was released on 2021-04-12 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book highlights the critical relationship between China and the Association of Southeast Asian Nations (ASEAN) associated with its trade interdependency. As the largest trade partner in the region, China has not only presented itself with opportunities for ASEAN to tap its market, but also created great challenges for the region. The fundamental question that this book addresses, therefore, is whether China’s engagement with ASEAN comes at a cost for the latter following from the systemic risks tied to the China-centric supply chains in the region. The trade interactions between China and ASEAN, though extensively explored, are less understood in the context of its influence over the region amidst the recent changing dynamics that follow from China’s global engagement and backlash from major powers. The book therefore resolutely rises against stereotypes and clichés, making readers reconsider many oversimplified assumptions of the benefits of trade engagement where economies are interconnected through complex production chains.

China, Trade and Power

Author : Stewart Paterson
Publisher : London School of Economics and Political Science
ISBN 13 : 9781907994814
Total Pages : 176 pages
Book Rating : 4.9/5 (948 download)

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Book Synopsis China, Trade and Power by : Stewart Paterson

Download or read book China, Trade and Power written by Stewart Paterson and published by London School of Economics and Political Science. This book was released on 2018-10-18 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: From a Western point of view, the policy of economic engagement with China has failed. A rapid rise in living standards in China has helped legitimize and strengthen the Chinese Communist Party's power. How did Western, market-orientated, property-owning, liberal democracies go from being in a position of complete global hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation? This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China's accession to the World Trade Organization in December 2001. It is the most extraordinary economic success story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values. The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China's mercantilist model is now held up as a viable economic alternative. To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.

China 2049

Author : David Dollar
Publisher : Brookings Institution Press
ISBN 13 : 0815738064
Total Pages : 444 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis China 2049 by : David Dollar

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.

Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization

Author : Yi Wen
Publisher : World Scientific
ISBN 13 : 9814733741
Total Pages : 336 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization by : Yi Wen

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.

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 Shock

Author : Michael Anthony
Publisher : CreateSpace
ISBN 13 : 9781518701825
Total Pages : 182 pages
Book Rating : 4.7/5 (18 download)

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Book Synopsis China Shock by : Michael Anthony

Download or read book China Shock written by Michael Anthony and published by CreateSpace. This book was released on 2015-11-15 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is on the way to becoming a global superpower, and the Chinese are bulldozing their way all over our planet. It's high time that the rest of the world knew more about this colossus. In this book, you'll discover: How the Chinese are not just different but also very peculiar in so many aspects like beliefs and personality. How China has been undergoing a major internal transformation, including a sex revolution. How the Communist Party of China maintains total control of the country. How China has carried out the biggest heist of Western intellectual property, and crippled the US economy. How China's leaders are using The Art of War to defeat America, and conquer the world. The book is very informative, full of vivid illustrations, and the result of years of research by an author who lived in China, speaks Chinese, and is very familiar with the intricacies of modern China.

China's Future

Author : David Shambaugh
Publisher : John Wiley & Sons
ISBN 13 : 1509507175
Total Pages : 144 pages
Book Rating : 4.5/5 (95 download)

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Book Synopsis China's Future by : David Shambaugh

Download or read book China's Future written by David Shambaugh and published by John Wiley & Sons. This book was released on 2016-03-11 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's future is arguably the most consequential question in global affairs. Having enjoyed unprecedented levels of growth, China is at a critical juncture in the development of its economy, society, polity, national security, and international relations. The direction the nation takes at this turning point will determine whether it stalls or continues to develop and prosper. Will China be successful in implementing a new wave of transformational reforms that could last decades and make it the world's leading superpower? Or will its leaders shy away from the drastic changes required because the regime's power is at risk? If so, will that lead to prolonged stagnation or even regime collapse? Might China move down a more liberal or even democratic path? Or will China instead emerge as a hard, authoritarian and aggressive superstate? In this new book, David Shambaugh argues that these potential pathways are all possibilities - but they depend on key decisions yet to be made by China's leaders, different pressures from within Chinese society, as well as actions taken by other nations. Assessing these scenarios and their implications, he offers a thoughtful and clear study of China's future for all those seeking to understand the country's likely trajectory over the coming decade and beyond.

China and Russia

Author : Alexander Lukin
Publisher : John Wiley & Sons
ISBN 13 : 1509521747
Total Pages : 272 pages
Book Rating : 4.5/5 (95 download)

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Book Synopsis China and Russia by : Alexander Lukin

Download or read book China and Russia written by Alexander Lukin and published by John Wiley & Sons. This book was released on 2018-03-16 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: With many predicting the end of US hegemony, Russia and China's growing cooperation in a number of key strategic areas looks set to have a major impact on global power dynamics. But what lies behind this Sino-Russian rapprochement? Is it simply the result of deteriorated Russo–US and Sino–US relations or does it date back to a more fundamental alignment of interests after the Cold War? In this book Alexander Lukin answers these questions, offering a deeply informed and nuanced assessment of Russia and China’s ever-closer ties. Tracing the evolution of this partnership from the 1990s to the present day, he shows how economic and geopolitical interests drove the two countries together in spite of political and cultural differences. Key areas of cooperation and possible conflict are explored, from bilateral trade and investment to immigration and security. Ultimately, Lukin argues that China and Russia’s strategic partnership is part of a growing system of cooperation in the non-Western world, which has also seen the emergence of a new political community: Greater Eurasia. His vision of the new China–Russia rapprochement will be essential reading for anyone interested in understanding this evolving partnership and the way in which it is altering the contemporary geopolitical landscape.

Policy Shock

Author : Edward J. Balleisen
Publisher : Cambridge University Press
ISBN 13 : 1107140218
Total Pages : 593 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Policy Shock by : Edward J. Balleisen

Download or read book Policy Shock written by Edward J. Balleisen and published by Cambridge University Press. This book was released on 2017-11-02 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, compelling case studies show how past crises have reshaped regulation, and how policy-makers can learn from crises in the future.