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The Chinese Economy 1978 1994
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Book Synopsis How China Became Capitalist by : R. Coase
Download or read book How China Became Capitalist written by R. Coase and published by Springer. This book was released on 2016-04-30 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
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 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.
Download or read book China written by Ross Garnaut and published by Asia Pacific Press. This book was released on 1999 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Development Centre Studies Chinese Economic Performance in the Long Run by : Maddison Angus
Download or read book Development Centre Studies Chinese Economic Performance in the Long Run written by Maddison Angus and published by OECD Publishing. This book was released on 1998-09-25 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.
Book Synopsis China’s 40 Years of Economic Reform and Development by : Xinli Zheng
Download or read book China’s 40 Years of Economic Reform and Development written by Xinli Zheng and published by Springer. This book was released on 2018-10-12 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to explain the secret to China’s rapid growth over the last 40 years from the viewpoint of a firsthand witness. Zheng Xinli was enrolled as a graduate student of economics 40 years ago, at a time when very few Chinese people could enroll in higher-level education, let alone graduate school. Since 1978, he has been engaged in the study of macroeconomic theory and economic policy. He has worked with the economic group of the Research Section of the Secretariat of the Central Committee of the Communist Party of China, the State Information Center, and the Policy Research Office of the State Planning Commission, as well as other organizations. His work serves to help Chinese leaders in making economic decisions. In 2013, Zheng Xinli appeared on the list of China’s Top Ten Economists. With the addition of several up-to-date articles, this book is mainly a condensed version of a 16-volume collection of essays selected from among the more-than-500 articles published by Zheng between 1981 and 2016. Addressing some of the major issues in China, namely, Reform and Development, Development Patterns, Macro Regulation, Balanced Urban and Rural Development, Innovation, and Industry Revitalization, the book, as Zheng himself puts it, visualizes the birth process of different policies and measures which have catered to the different stages of reform. As an insider, and also partly as a designer and architect, Zheng Xinli provides readers with a view of China’s reform from the top.
Book Synopsis APEC and Liberalisation of the Chinese Economy by : Peter Drysdale
Download or read book APEC and Liberalisation of the Chinese Economy written by Peter Drysdale and published by ANU E Press. This book was released on 2012-12-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book assembles papers that were produced under a three year collaborative research program on 'China and APEC' undertaken by the AustraliaJapan Research Centre, in the Asia Pacific School of Economics and Management at The Australian National University and the APEC Policy Research Center, in the Chinese Academy of Social Sciences. ... The work on this project and the papers in the volume provide a base for developing ideas that could be helpful to the policy agenda for APEC 2001."--Preface.
Book Synopsis The Political Logic of Economic Reform in China by : Susan L. Shirk
Download or read book The Political Logic of Economic Reform in China written by Susan L. Shirk and published by Univ of California Press. This book was released on 2023-04-28 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chinese communist political institutions are more flexible and less centralized than their Soviet counterparts were. Shirk pioneers a rational choice institutional approach to analyze policy-making in a non-democratic authoritarian country and to explain the history of Chinese market reforms from 1979 to the present. Drawing on extensive interviews with high-level Chinese officials, she pieces together detailed histories of economic reform policy decisions and shows how the political logic of Chinese communist institutions shaped those decisions. Combining theoretical ambition with the flavor of on-the-ground policy-making in Beijing, this book is a major contribution to the study of reform in China and other communist countries. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1994. In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chine
Book Synopsis Reform and the Non-State Economy in China by : H. Lai
Download or read book Reform and the Non-State Economy in China written by H. Lai and published by Springer. This book was released on 2006-11-27 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Built on rich data analyses, this book offers a fresh and in-depth explanation of how China's pro-reform leaders successfully launched controversial policies to promote private and foreign economic sectors, managed leadership conflict, and ensured reform in the provinces and rapid growth in the nation.
Book Synopsis The Chinese Economy by : Barry Naughton
Download or read book The Chinese Economy written by Barry Naughton and published by MIT Press. This book was released on 2007 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive English-language overview of the modern Chinese economy, covering China's economic development since 1949 and post-1978 reforms--from industrial change and agricultural organization to science and technology.
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.
Author :Justin Yifu Lin Publisher :The Chinese University of Hong Kong Press ISBN 13 :9882378781 Total Pages :432 pages Book Rating :4.8/5 (823 download)
Book Synopsis The China Miracle by : Justin Yifu Lin
Download or read book The China Miracle written by Justin Yifu Lin and published by The Chinese University of Hong Kong Press. This book was released on 2004-03-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tremendous success of China's economic reform, in contrast with the vast difficulties encountered by the former Soviet Union and Eastern European countries in their transition, has attracted worldwide attention. Using a historical, comparative and analytic approach grounded in mainstream economics, the authors develop a consistent and rational framework of state-owned enterprises and individual agents to analyze the internal logic of the traditional planning system. They also explain why the Chinese economy grew slowly before the market-oriented reform in 1979 but became one of the fastest growing economies afterwards, and why the vigour/chaos cycle became part of China's reform process. The book also addresses to the questions that whether China can continue its trend of reform and development and become the largest economy in the world in the early 21st century, and what the general implications of China's experience of development and reform are for other developing and transition economies. The first edition has been well-received and is the standard textbook or reference for students and researchers of China studies. In this thoroughly revised edition, the authors have updated the data and information in the book and include a new chapter on the impact of China's WTO accession on its economic reforms and causes of the current deflation.
Book Synopsis China's Unfinished Economic Revolution by : Nicholas R. Lardy
Download or read book China's Unfinished Economic Revolution written by Nicholas R. Lardy and published by Brookings Institution Press. This book was released on 1998-07-01 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's Unfinished Economic Revolution offers a fundamentally different interpretation of China's economic reform. The common view that China's gradualistic approach has served it well overlooks the fact that state-owned banks for the last two decades have channeled a large share of sharply rising household savings into what are mostly unreformed, money-losing companies. The result is that several of China's largest financial institutions now are insolvent. To avoid a major domestic banking crisis the book argues that China must recapitalize and restructure its domestic banking system and end the long-standing practice of making lending decisions based on political rather than economic criteria. Nicholas Lardy explains that this course will inevitably be costly in political terms, in part because it will lead for a time to a slower rate of economic growth. But the alternative is even less attractive—permanently slower growth, continued macroeconomic instability, an inability to meet the expectations of the international community for the opening of its domestic financial markets, and insufficient resources to deal with severe environmental deterioration, growing water shortages, and a rapidly aging population. This timely book also analyzes the new reform initiatives China has launched in the wake of the Asian financial crisis, suggests additional steps that must be taken, and evaluates the implications for U.S. policy.
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 Foreign Trade and Economic Reform in China by : Nicholas R. Lardy
Download or read book Foreign Trade and Economic Reform in China written by Nicholas R. Lardy and published by Cambridge University Press. This book was released on 1992 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of how China emerged as one of the most dynamic trading nations in the world, first published in 1992.
Book Synopsis Demystifying the Chinese Economy by : Justin Yifu Lin
Download or read book Demystifying the Chinese Economy written by Justin Yifu Lin and published by Cambridge University Press. This book was released on 2012 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.
Book Synopsis Chinese Economic Reform by : Bruce L. Reynolds
Download or read book Chinese Economic Reform written by Bruce L. Reynolds and published by Academic Press. This book was released on 2014-05-10 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chinese Economic Reform: How Far, How Fast? focuses on China's economic reform and tackles topics ranging from the reformed price system and the macroeconomic mechanism to the dual pricing system in industry. The rapid growth in money income and government deficit is also examined, along with the relationship between price level, money supply, and GNP. Agricultural reform and the shortcomings of China's banking system as a tool for monetary control are considered as well. Comprised of 17 chapters, this book begins with an analysis of the impact of the two-tier plan/market system on the Chinese industry, followed by a discussion on the dual pricing system in the industry and money and price level determination in China. The reader is then introduced to China's macroeconomic policy and how it has been influenced by the reform process; money and the consumption goods market; and issues in the structural reform of agriculture. Subsequent chapters focus on the banking system; economic policy and income distribution; trade, employment, and inequality in post-reform China; and the stock-share system as an avenue for reforming the Chinese economy. Economic liberalization in China is also compared with that in India. This monograph will be of interest to economists and economic policymakers.
