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The Impact Of The Global Financial Crisis On The Chinese Economy And Chinas Policy Responses
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Book Synopsis Sustaining China's Economic Growth After the Global Financial Crisis by : Nicholas R. Lardy
Download or read book Sustaining China's Economic Growth After the Global Financial Crisis written by Nicholas R. Lardy and published by Peterson Institute. This book was released on 2012 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the Global Financial Crisis on the Chinese Economy and China's Policy Responses by : Yongding Yu
Download or read book The Impact of the Global Financial Crisis on the Chinese Economy and China's Policy Responses written by Yongding Yu and published by . This book was released on 2010 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis China and the Global Financial Crisis by : Jean-Pierre Cabestan
Download or read book China and the Global Financial Crisis written by Jean-Pierre Cabestan and published by Routledge. This book was released on 2012-11-27 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines China’s response to the 2007-2008 global financial crisis, and the resulting new status acquired by China within the international economy. It considers the things China did to weather the crisis, discussing the stimulus package put in place by China and how China’s banks coped, but above all examines the measures which countries outside China look to China to put in place in order to better encourage and secure world-wide economic recovery, measures such as currency revaluation, tax reform and greater stimulation of domestic demand. The book contrasts China’s response to the crisis, and China’s increasingly central role in the world economy, with the responses of the European Union. The book also assesses China’s increasingly important regional role, in particular its dialogue with the new Japanese government, and China’s positioning towards Southeast Asia, and also discusses the growth of Chinese foreign direct investment.
Book Synopsis China And The Global Economic Crisis by : Yongnian Zheng
Download or read book China And The Global Economic Crisis written by Yongnian Zheng and published by World Scientific. This book was released on 2010-02-22 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current global financial turmoil, triggered by the US subprime crisis, has spread quickly and resulted in the worst global economic crisis since the 1930s. As the world's third largest economy and the second largest trading nation, China is inevitably affected seriously. How China responds to the crisis and how effective its measures are in sustaining a healthy growth will have important implications, both domestically and internationally.The chapters in this volume are divided into five sections. Section one examines the overall impact of the global economic crisis and the responses of the Chinese government. Section two studies the regional aspect of the economy affected by the crisis. Section three explores such economies of the Mainland's southern neighbors as Hong Kong, Macao and Taiwan, and the prospect of China's trade. Section four surveys the impact on the ideological and social aspects of the country. Section five concludes with an assessment of China's external policies. The volume offers a comprehensive and in-depth assessment of the impact of the crisis and the measures of the Chinese government to overcome the difficulties.
Book Synopsis The Great Recession and Developing Countries by : Mustapha K. Nabli
Download or read book The Great Recession and Developing Countries written by Mustapha K. Nabli and published by World Bank Publications. This book was released on 2010-12-03 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides one of the most detailed and comprehensive reviews of the growth experience of a group of low and middle income countries before and during the global crisis. It then explores their growth prospects after the recovery and how they may be shaped by the new global economic environment.
Book Synopsis China and the Global Economic Crisis by : Yongnian Zheng
Download or read book China and the Global Economic Crisis written by Yongnian Zheng and published by World Scientific. This book was released on 2010 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. China's economy 2008 and outlook for 2009 : crisis of a sharp slowdown / John Wong -- 2. Recession averted? China's domestic response to the global financial crisis / Yang Mu and Lim Tin Seng -- 3. China's decisive response to the economic crisis bears fruits / Sarah Y. Tong -- 4. Pearl River Delta in a crisis of industrialisation / Huang Yanjie and Chen Shaofeng -- 5. Impact of the global economic crisis on the Pearl River Delta and Yangtze River Delta regions / Yu Hong -- 6. Taiwan's economy in the financial crisis and its outlook / Zhao Hong -- 7. Hong Kong's economy on the road to recovery? / Zhang Yang -- 8. Financial crisis offers respite for the Macao economy / Zhang Yang and Fung Kwan -- 9. China's trade prospects and China-ASEAN trade relations / Sarah Y. Tong and Chong Siew Keng -- 10. Sino-South Korean bilateral trade in the current economic crisis / Zhou Shengqi -- 11. Ascendance of China's new left amidst the global ginancial crisis / Bo Zhiyue and Chen Gang -- 12. Will social stability in China be undermined in the financial crisis? / Zhao Litao and Huang Yanjie -- 13. The international financial crisis and China's external response / Zheng Yongnian and Lye Liang Fook
Book Synopsis Global Financial Crisis and Challenges for China by : Dr Mu Yang
Download or read book Global Financial Crisis and Challenges for China written by Dr Mu Yang and published by World Scientific. This book was released on 2012-07-25 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results ? both positive and negative aspects in the middle and long term. The 2008?09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession. According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy. The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund. The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player.Contents: IntroductionThe 2008 Financial Crisis and the Chinese EconomyShanghai as an International Financial CentreThe Renminbi DebatePromoting China-ASEAN Economic CooperationThe Flying Geese ModelReflections on Developmental ModelsBy Way of Conclusion: Some Random Thoughts Readership: Academics interested in Asian Studies, China's economy and the financial crisis; general public.
Book Synopsis China's Policy Responses to the Global Financial Crisis by : Yu Yongding
Download or read book China's Policy Responses to the Global Financial Crisis written by Yu Yongding and published by . This book was released on 2009 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical examination of how the Chinese government has handled the GFC.
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.
Book Synopsis The Global Financial Crisis and Asia by : Masahiro Kawai
Download or read book The Global Financial Crisis and Asia written by Masahiro Kawai and published by Oxford University Press. This book was released on 2012-10-25 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates how Asian countries tried to minimize the impact of the global financial crisis, identifies structural weaknesses in their economies, and discusses policy options for strengthening Asian economies to avoid future crises and promote sustainable growth in the long-term.
Book Synopsis China's Response to the Global Financial Crisis: Examining the Incentives Behind China's Stimulus Package - Economic, Social, and Political Argument I by : U. S. Military
Download or read book China's Response to the Global Financial Crisis: Examining the Incentives Behind China's Stimulus Package - Economic, Social, and Political Argument I written by U. S. Military and published by Independently Published. This book was released on 2018-09-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines the incentives behind China's decision to implement its aggressive $585 billion economic stimulus package in response to the global financial crisis, or GFC. The thesis assesses the explanatory power of economic, social, and political causal factors to explain China's decision. The main finding of this thesis combines all three factors to demonstrate that China's stimulus package was most likely implemented because the Chinese Communist Party (CCP) perceived that it was necessary to protect its regime. The economic argument demonstrates how China's government had to resort to an investment-led stimulus plan to generate economic growth through domestic demand after the GFC severely damaged China's export sector. The social argument establishes how tens of millions of people left unemployed by the GFC felt marginalized by the government due to the country's inequitable economic growth, which was perceived to have primarily benefitted the regime. This increased the potential for social instability, which would have been directed at the CCP. Lastly, the political argument determines how the regime was under significant political pressure to meet domestic and international expectations to sustain economic growth throughout the GFC. These findings underscore how the CCP prioritizes regime survival over long-term economic development. Prior to the 2008 global financial crisis, China was in the process of enacting significant reforms designed to improve the efficiency of its market economy. Among these reform efforts, China forced its inefficient state-owned enterprises to downsize, furloughed millions of state workers, and spent trillions of yuan to restructure and improve the solvency of its banking sector. In response to the crisis, China initially implemented an aggressive 4 trillion yuan (over $585 billion) economic stimulus package in November 2008, which ballooned to over double that amount (or nearly triple by some accounts) by 2010. China's stimulus package was among the fastest issued and largest in size in the world, helping its country to sustain economic growth while most other countries endured deep recession. Funds from the stimulus package were primarily allocated to large infrastructure projects that would employ millions of laid off workers. Although the stimulus package provided a temporary economic boost within China, it impeded the progress of its previous reform efforts well after the crisis subsided. The package's loose monetary policy and increased bank credit, coupled with urgent state messages to spend, implanted a moral hazard into the banking sector, reversed efforts to make state-owned enterprises more efficient, and made China's economy increasingly reliant on investment
Book Synopsis The Chinese Economic Transformation by : Song, Ligang
Download or read book The Chinese Economic Transformation written by Song, Ligang and published by ANU Press. This book was released on 2019-07-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese Economic Transformation, the 19th volume in the China Update book series, provides an opportunity for young economists to share their views on various issues relating to the Chinese economic transformation. More than half of the contributors to this book are female scholars. Some of the contributors are rising stars in the studies of the Chinese economy and economic transition, and some only recently received their PhDs and are on their way to establishing themselves in the field of China studies. But they have one thing in common: to passionately observe, study and research what is going on in the Chinese economic transformation during the reform period; and, by so doing, make contributions to the policy debates on, and general understanding of, the Chinese economy. The chapters in this volume include an in-depth probe into challenges in capital and credit allocation due to financial friction and policy distortions; investigating the causes of growth slow-down in China and suitable policy responses; the evolution of the household registration system and its impact on off-farm employment and the integration of rural and urban labour markets; the growth, scale and characteristics of nonstandard employment; the development of rural e-commerce and its economic impact; innovation performance of listed enterprises in China; financial services liberalisation and its impact on firms’ performance; financing support schemes for small and medium-sized enterprises (SMEs) and the effect on banks’ credit allocation to SMEs; the potential costs of US–China trade conflict and ways to mitigate them; gender income gap in China’s labour market; causes of blockage of Chinese overseas direct investment and strategies to reduce the probability of encountering obstacles; and the role of state capital in the iron ore boom in Australia. The great variety of topics in this year’s Update allows readers to understand the current shape of the Chinese economy and to think deeply about policies and necessary reforms for future growth and development.
Book Synopsis The Global Financial Crisis by : Dick K. Nanto
Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.
Download or read book Re-balancing China written by Peter Nolan and published by Anthem Press. This book was released on 2015-03-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘Re-balancing China’ addresses three key sets of issues in China’s political economy. Part One provides an analysis of the profound effect of the global financial crisis upon China’s economy, as well as the positive impact of the massive rescue package that was implemented in response to the crisis. Part Two focuses on the challenge of globalization for China’s industrial policy. After more than two decades of industrial policy, China still has a negligible number of large firms that are competitive in global markets. China’s experience presents a fundamental challenge to traditional concepts of industrial policy and development. Part Three examines China’s international relations – in particular, its relationship with the US and the interactions between the two countries in the East and South China Seas.
Download or read book China's Rise written by C. Fred Bergsten and published by Peterson Institute. This book was released on 2009 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps the United States and the rest of the world better comprehend the facts and dynamics underpinning China's rise. This book analyzes the data on China's economy, foreign and domestic policy, and national security.
Author :Congressional Research Service Publisher :Createspace Independent Publishing Platform ISBN 13 :9781976466953 Total Pages :52 pages Book Rating :4.4/5 (669 download)
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.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
