China S Trade Exchange Rate And Industrial Policy Structure

Author : John Whalley
Publisher : World Scientific
Page : 364 pages
File Size : 45,9 Mb
Release : 2013-04-15
Category : Business & Economics
ISBN : 9789814401890

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China's Trade, Exchange Rate and Industrial Policy Structure by John Whalley Pdf

This book aims at assessing the potential impacts of China's macro economic, trade, exchange rate and reserve management policies for industrial structure and performance. It uses data analysis and econometric methods applied to recent Chinese data. It has a special focus on the performance of the Chinese economy both during and after the 2008 global financial crisis. The book will be of interest to researchers and practitioners in governmental and international agencies both in China and outside of the country. Contents:Overview of Papers and Introduction:Introduction (John Whalley)The Impacts of the 2008 Financial Crisis on China (John Whalley)How Can the G20 Better Support Global Governance? A Chinese Perspective (Yuyan Zhang and Huifang Tian)Macroeconomic Policies:The Chinese Savings Rate: Causes and Implications for Imbalances (Yuezhou Cai and Tongsan Wang)Labour Market Reform, Income Inequality and Economic Growth in China (Ming Lu and Hong Gao)Institutional Constraints, Identity and Household Consumption Heterogeneity in China (Binkai Chen, Ming Lu and Ninghua Zhong)China's Trade:What Accounts for China's Export Market Performance During the Financial Crisis? (Ma Tao and Zhang Lin)The Global Financial Crisis and China's Trade in Services: Impacts and Trade Policy Responses (Ying Fan)How Much Did China's Exports Drop During the 2008–2009 Financial Crisis? (Ran Jing)Exchange Rate Policy and Reserve Management:Employment versus Wage Adjustment and Revaluation of RMB (Risheng Mao)China's Sovereign Wealth Fund as Foreign Reserve Manager: Pre- and Post-Crisis (Yiwen Fei and Xichi Xu)Industrial Structure and Performance:On Industrial Performance During the Global Recession (Lingyun Gao and Qingyi Su)Post–Crisis Infrastructure Investment and Economic Growth in China (Shaoqing Huang, Hao Shi and Weimin Zhou)The Effects of China's Stimulus Policies and Their Transmission Channels (Zhang Tao and Wang Wenfu) Readership: Upper-level undergraduate and graduate students as well as researchers involved in the field of international economics, with a special focus on China. Keywords:China;Macro;Trade;Exchange Rate;Industrial Policy Structure

Author : U.S.-China Economic and Security Review Commission
Publisher : Unknown
Page : 256 pages
File Size : 55,8 Mb
Release : 2003
Category : China
ISBN : MINN:31951D02181958K

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China's Industrial, Investment, and Exchange Rate Policies by U.S.-China Economic and Security Review Commission Pdf

Author : Zheng Yongnian,Sarah Y. Tong
Publisher : Routledge
Page : 287 pages
File Size : 47,6 Mb
Release : 2014-07-11
Category : Social Science
ISBN : 9781317818816

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China's Evolving Industrial Policies and Economic Restructuring by Zheng Yongnian,Sarah Y. Tong Pdf

In the past three decades, China has successfully transformed itself from an extremely poor economy to the world’s second largest economy. The country’s phenomenal economic growth has been sustained primarily by its rapid and continuous industrialisation. Currently industry accounts for nearly two-fifth of China’s gross domestic product, and since 2009 China has been the world’s largest exporter of manufactured products. This book explores the question of how far this industrial growth has been the product of government policies. It discusses how government policies and their priorities have developed and evolved, examines how industrial policies are linked to policies in other areas, such as trade, technology and regional development, and assesses how new policy initiatives are encouraging China’s increasing success in new technology-intensive industries. It also demonstrates how China’s industrial policies are linked to development of industrial clusters and regions.

Author : Morris Goldstein,Nicholas R. Lardy
Publisher : Peterson Institute
Page : 388 pages
File Size : 52,9 Mb
Release : 2008-01-01
Category : Business & Economics
ISBN : 1435655370

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Debating China's Exchange Rate Policy by Morris Goldstein,Nicholas R. Lardy Pdf

Half or more of the annual gains from trade would come from the removal of industrial-country protection against developing-country exports. By removing their trade barriers, industrial countries could convey economic benefits to developing countries worth about twice the amount of their annual development assistance. By helping developing countries grow through trade, moreover, industrial countries could lower costs to consumers for imports and realize other economic efficiencies.

Author : Wayne Morrison,Marc Labonte
Publisher : CreateSpace
Page : 48 pages
File Size : 55,7 Mb
Release : 2012-12-27
Category : Electronic
ISBN : 1481849174

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China's Currency Policy: an Analysis of the Economic Issues by Wayne Morrison,Marc Labonte Pdf

China's policy of intervening in currency markets to limit or halt the appreciation of its currency, the renminbi (RMB), against the U.S. dollar and other currencies has become an issue of concern for many in Congress. Critics charge that China's currency policy is intended to make its exports significantly less expensive, and its imports more expensive, than would occur if the RMB were a freely-traded currency. They contend that the RMB is significantly undervalued against the dollar and that this has been a major contributor to the large annual U.S. trade deficits with China and the loss of U.S. jobs in recent years. Several bills have been introduced the 112th Congress that seek to address the effects of undervalued currencies (which are largely aimed at China), including H.R. 639, S. 328, S. 1130, S. 1267, and S. 1619 (which passed the Senate on October 11, 2011). On the other hand, some analysts contend that China's industrial policies, its failure to adequately protect U.S. intellectual property rights, and its unbalanced economic growth model, pose more serious challenges to U.S. economic interests than China's currency policy. Some U.S. business groups have also expressed concern that U.S. currency legislation could aggravate U.S.- China commercial ties.

Author : John Whalley
Publisher : World Scientific
Page : 363 pages
File Size : 46,8 Mb
Release : 2013
Category : Political Science
ISBN : 9789814401883

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China's Trade, Exchange Rate and Industrial Policy Structure by John Whalley Pdf

This book aims at assessing the potential impacts of China''s macro economic, trade, exchange rate and reserve management policies for industrial structure and performance. It uses data analysis and econometric methods applied to recent Chinese data. It has a special focus on the performance of the Chinese economy both during and after the 2008 global financial crisis. The book will be of interest to researchers and practitioners in governmental and international agencies both in China and outside of the country.

Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
Page : 52 pages
File Size : 52,8 Mb
Release : 2017-09-17
Category : Electronic
ISBN : 1976466954

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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.

Author : Reda Cherif,Fuad Hasanov
Publisher : International Monetary Fund
Page : 79 pages
File Size : 41,6 Mb
Release : 2019-03-26
Category : Business & Economics
ISBN : 9781498305563

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The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy by Reda Cherif,Fuad Hasanov Pdf

Industrial policy is tainted with bad reputation among policymakers and academics and is often viewed as the road to perdition for developing economies. Yet the success of the Asian Miracles with industrial policy stands as an uncomfortable story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn more from miracles than failures. We suggest three key principles behind their success: (i) the support of domestic producers in sophisticated industries, beyond the initial comparative advantage; (ii) export orientation; and (iii) the pursuit of fierce competition with strict accountability.

Author : Robert C. Feenstra
Publisher : University of Chicago Press
Page : 603 pages
File Size : 52,8 Mb
Release : 2010-03-10
Category : Business & Economics
ISBN : 9780226239729

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China's Growing Role in World Trade by Robert C. Feenstra Pdf

In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

Author : Ross Garnaut,Ligang Song,Cai Fang
Publisher : ANU Press
Page : 709 pages
File Size : 51,5 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781760462253

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China’s 40 Years of Reform and Development: 1978–2018 by Ross Garnaut,Ligang Song,Cai Fang Pdf

The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 50,7 Mb
Release : 2024-07-03
Category : Electronic
ISBN : 9789814462815

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China's Industrial Development in the 21st Century by Anonim Pdf

Author : Eswar Prasad
Publisher : International Monetary Fund
Page : 80 pages
File Size : 41,7 Mb
Release : 2004-06-17
Category : Business & Economics
ISBN : UCSC:32106017394906

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China's Growth and Integration Into the World Economy by Eswar Prasad Pdf

China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.

Author : Daniel Lederman,William Maloney
Publisher : World Bank Publications
Page : 153 pages
File Size : 53,7 Mb
Release : 2012-06-18
Category : Business & Economics
ISBN : 9780821384916

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Does What You Export Matter? by Daniel Lederman,William Maloney Pdf

Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.

Author : David Dollar,Yiping Huang,Yang Yao
Publisher : Brookings Institution Press
Page : 444 pages
File Size : 55,7 Mb
Release : 2020-06-09
Category : Political Science
ISBN : 9780815738060

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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.

Author : Ross Garnaut,Ligang Song
Publisher : Unknown
Page : 240 pages
File Size : 51,6 Mb
Release : 2012
Category : China
ISBN : 1922144452

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China by Ross Garnaut,Ligang Song Pdf

Nine papers by various authors discussing aspects of economic reform in China over a 20 year period.