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A Financial History of China (1949–2019) by Yunxian Wu Pdf
This book summarizes the financial development of China from 1949 to 2019. This book divides the process of financial development during the past 70 years into five stages, focusing on the development characteristics of different parts of the financial institution system, including banks, securities, insurance, and other financial institutions, as well as the difficult growth process of financial markets (currency, capital, bond, and foreign exchange markets, etc.) from absence to existence, from small to large. This book objectively analyzes the achievements of China’s financial industry in the past 70 years and reveals the historical experience and enlightenment contained therein.
The objective of this book is to take stock of the research Paolo Urio has conducted since 1997 on the rise of modern China, with emphasis on strategic public management. The starting point of the book is China’s will to recover world power status. This objective is of paramount importance for understanding the policies implemented since 1949, their rationale, content, and consequences upon Chinese society and economy, as well as their sequence in time, i.e. the underlying grand strategy. Starting from these premises, the book proposes an analysis of the contradictions that have developed within China since 1949, the positive and the negative consequences of the public policies implemented to overcome these imbalances, i.e.: the Communist Party’s loss of reputation at the end of Mao era; the introduction of market mechanisms by Deng and the resulting imbalances within Chinese economy, society and environment; the rebalances policies of the Hu Jintao era; and finally the assertive power policies of Xi Jinping, both nationally, e.g. the fight against corruption, and internationally, i.e. China’s new role in the world, especially as a competitor of the Unites States.
China's Economic Rise by Congressional Research Service Pdf
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.
Kenya's and Zambia's Relations with China 1949-2019 by Jodie Yuzhou Sun Pdf
Examines the history of post-colonial Kenya's and Zambia's relations with the People's Republic of China from ideological, political, economic and social perspectives. Africa has become a major platform from which to analyse and understand China's growing influence in the global South. Yet, the impact of their historical relationship has been largely overlooked. Through the triangulation of the global Cold War, African history, and Chinese history, this study provides a detailed analysis of China-Africa relations in the second half of the 20th century. Examining the encounters, conflicts, and dynamics of China-Kenya/Zambia relations from the 1950s until the present, as well as the basis on which historical narratives have been constructed, the book presents two contrasting state perspectives underlining the concept of 'African agency'. Driven by a class-based analysis of world revolution, Communist China's foreign policy did not distinguish significantly between Kenya and Zambia. Both countries sought ideological and material support from China in the years after their independence. The Kenya African National Union under both Jomo Kenyatta and Daniel Moi pursued a consistently pragmatic foreign agenda, and despite political tensions and ideological rifts with China since the mid-1960s, Sino-Kenyan trade has continued to grow steadily. In contrast, China-Zambia relations under Kenneth Kaunda were cordial despite their political differences. Zambian leaders maintained a relatively high consensus that any alleged Chinese Communist threat would not be allowed to fuel power struggles within their United National Independence Party. Challenging both the widely accepted role of China-Africa's historical lineage, as well as the tendency to assume uniformity in China's relationships across the continent, the author explains the development of these relationships and sheds light on the historical underpinnings - or lack thereof - on contemporary China-Africa relations.
‘A landmark work giving a global panorama of Mao's ideology filled with historic events and enlivened by striking characters’ Jonathan Fenby, author of The Penguin History of China Since the 1980s, China seems to have abandoned the utopian turmoil of Mao’s revolution in favour of authoritarian capitalism. But Mao and his ideas remain central to the People’s Republic. With disagreements between China and the West on the rise, the need to understand the political legacy of Mao is urgent and growing. A crucial motor of the Cold War: Maoism shaped the course of the Vietnam War and brought to power the Khmer Rouge in Cambodia; it aided anti-colonial resistance movements in Africa; it inspired terrorism in Germany and Italy, and wars and insurgencies in Peru, India and Nepal, some of which are still with us today. Starting with the birth of Mao’s revolution in northwest China in the 1930s and concluding with its violent afterlives in South Asia and resurgence in the People’s Republic today, Julia Lovell re-evaluates Maoism as both a Chinese and an international force, linking its evolution in China with its global legacy. 'Wonderful' Andrew Marr, New Statesman
The dramatic real life stories of four young people caught up in the mass exodus of Shanghai in the wake of China’s 1949 Communist revolution—a heartrending precursor to the struggles faced by emigrants today. “A true page-turner . . . [Helen] Zia has proven once again that history is something that happens to real people.”—New York Times bestselling author Lisa See NAMED ONE OF THE BEST BOOKS OF THE YEAR BY NPR AND THE CHRISTIAN SCIENCE MONITOR • FINALIST FOR THE PEN/JACQUELINE BOGRAD WELD AWARD FOR BIOGRAPHY Shanghai has historically been China’s jewel, its richest, most modern and westernized city. The bustling metropolis was home to sophisticated intellectuals, entrepreneurs, and a thriving middle class when Mao’s proletarian revolution emerged victorious from the long civil war. Terrified of the horrors the Communists would wreak upon their lives, citizens of Shanghai who could afford to fled in every direction. Seventy years later, members of the last generation to fully recall this massive exodus have revealed their stories to Chinese American journalist Helen Zia, who interviewed hundreds of exiles about their journey through one of the most tumultuous events of the twentieth century. From these moving accounts, Zia weaves together the stories of four young Shanghai residents who wrestled with the decision to abandon everything for an uncertain life as refugees in Hong Kong, Taiwan, and the United States. Benny, who as a teenager became the unwilling heir to his father’s dark wartime legacy, must decide either to escape to Hong Kong or navigate the intricacies of a newly Communist China. The resolute Annuo, forced to flee her home with her father, a defeated Nationalist official, becomes an unwelcome exile in Taiwan. The financially strapped Ho fights deportation from the U.S. in order to continue his studies while his family struggles at home. And Bing, given away by her poor parents, faces the prospect of a new life among strangers in America. The lives of these men and women are marvelously portrayed, revealing the dignity and triumph of personal survival. Herself the daughter of immigrants from China, Zia is uniquely equipped to explain how crises like the Shanghai transition affect children and their families, students and their futures, and, ultimately, the way we see ourselves and those around us. Last Boat Out of Shanghai brings a poignant personal angle to the experiences of refugees then and, by extension, today. “Zia’s portraits are compassionate and heartbreaking, and they are, ultimately, the universal story of many families who leave their homeland as refugees and find less-than-welcoming circumstances on the other side.”—Amy Tan, author of The Joy Luck Club
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.
Author : Gordon G. Chang Publisher : Random House Page : 368 pages File Size : 44,9 Mb Release : 2001-09-15 Category : Business & Economics ISBN : 9781588360212
The Coming Collapse of China by Gordon G. Chang Pdf
China is hot. The world sees a glorious future for this sleeping giant, three times larger than the United States, predicting it will blossom into the world's biggest economy by 2010. According to Chang, however, a Chinese-American lawyer and China specialist, the People's Republic is a paper dragon. Peer beneath the veneer of modernization since Mao's death, and the symptoms of decay are everywhere: Deflation grips the economy, state-owned enterprises are failing, banks are hopelessly insolvent, foreign investment continues to decline, and Communist party corruption eats away at the fabric of society. Beijing's cautious reforms have left the country stuck midway between communism and capitalism, Chang writes. With its impending World Trade Organization membership, for the first time China will be forced to open itself to foreign competition, which will shake the country to its foundations. Economic failure will be followed by government collapse. Covering subjects from party politics to the Falun Gong to the government's insupportable position on Taiwan, Chang presents a thorough and very chilling overview of China's present and not-so-distant future.
This open access handbook, Ten Crises systematically traces the economic history of China from 1949 to 2020, unravelling the complex domestic and global factors leading to the cyclical crises identified by WEN and his research team, and examining the corresponding counteracting policies and measures by the government to resolve or defer the crises. The book offers profound insights into China's endeavours and predicaments on the path of modernization, and contemplates opportunities and lessons for the forging of alternative trajectories not only for China but also for the global south: to reconstruct rural communities for integrated cooperation and governance, and to revitalize ecological civilization.
Railroads and the Transformation of China by Elisabeth Köll Pdf
To convey modern China’s history and the forces driving its economic success, rail has no equal. From warlordism to Cultural Revolution, railroads suffered the country’s ills but persisted because they were exemplary institutions. Elisabeth Köll shows why they remain essential to the PRC’s technocratic economic model for China’s future.
China 2049 by David Dollar,Yiping Huang,Yang Yao Pdf
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.
China's Influence and American Interests by Larry Diamond,Orville Schell Pdf
While Americans are generally aware of China's ambitions as a global economic and military superpower, few understand just how deeply and assertively that country has already sought to influence American society. As the authors of this volume write, it is time for a wake-up call. In documenting the extent of Beijing's expanding influence operations inside the United States, they aim to raise awareness of China's efforts to penetrate and sway a range of American institutions: state and local governments, academic institutions, think tanks, media, and businesses. And they highlight other aspects of the propagandistic “discourse war” waged by the Chinese government and Communist Party leaders that are less expected and more alarming, such as their view of Chinese Americans as members of a worldwide Chinese diaspora that owes undefined allegiance to the so-called Motherland.Featuring ideas and policy proposals from leading China specialists, China's Influence and American Interests argues that a successful future relationship requires a rebalancing toward greater transparency, reciprocity, and fairness. Throughout, the authors also strongly state the importance of avoiding casting aspersions on Chinese and on Chinese Americans, who constitute a vital portion of American society. But if the United States is to fare well in this increasingly adversarial relationship with China, Americans must have a far better sense of that country's ambitions and methods than they do now.
The Price and Promise of Specialness by Jin Li Lim Pdf
In The Price and Promise of Specialness, Jin Li Lim revises narratives on the overseas Chinese and the People’s Republic of China by analysing ‘overseas Chinese affairs’ in New China’s first decade as a function of a larger political economy.
Andrew Scobell,Edmund J. Burke,Cortez A. Cooper III,Sale Lilly,Chad J. R. Ohlandt,Eric Warner,J.D. Williams
Author : Andrew Scobell,Edmund J. Burke,Cortez A. Cooper III,Sale Lilly,Chad J. R. Ohlandt,Eric Warner,J.D. Williams Publisher : Rand Corporation Page : 155 pages File Size : 46,7 Mb Release : 2020-07-27 Category : History ISBN : 9781977404206
China’s Grand Strategy by Andrew Scobell,Edmund J. Burke,Cortez A. Cooper III,Sale Lilly,Chad J. R. Ohlandt,Eric Warner,J.D. Williams Pdf
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.