How China Grows

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How China Grows

Author : James Riedel,Jing Jin,Jian Gao
Publisher : Princeton University Press
Page : 224 pages
File Size : 40,9 Mb
Release : 2023-06-06
Category : Business & Economics
ISBN : 9780691248066

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How China Grows by James Riedel,Jing Jin,Jian Gao Pdf

Why investment and financial reform are essential to China's continued economic well-being Although China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular—whether economists, political scientists, bankers, or business people.

China's New Sources of Economic Growth: Vol. 1

Author : Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston
Publisher : ANU Press
Page : 545 pages
File Size : 44,9 Mb
Release : 2016-07-21
Category : Business & Economics
ISBN : 9781760460358

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China's New Sources of Economic Growth: Vol. 1 by Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston Pdf

China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

The Chinese Economic Transformation

Author : Song, Ligang,Zhou, Yixiao,Hurst, Luke
Publisher : ANU Press
Page : 336 pages
File Size : 51,7 Mb
Release : 2019-07-10
Category : Business & Economics
ISBN : 9781760463120

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The Chinese Economic Transformation by Song, Ligang,Zhou, Yixiao,Hurst, Luke Pdf

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.

Global China

Author : Tarun Chhabra,Rush Doshi,Ryan Hass
Publisher : Brookings Institution Press
Page : 430 pages
File Size : 51,8 Mb
Release : 2021-06-22
Category : Political Science
ISBN : 9780815739173

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Global China by Tarun Chhabra,Rush Doshi,Ryan Hass Pdf

The global implications of China's rise as a global actor In 2005, a senior official in the George W. Bush administration expressed the hope that China would emerge as a “responsible stakeholder” on the world stage. A dozen years later, the Trump administration dramatically shifted course, instead calling China a “strategic competitor” whose actions routinely threaten U.S. interests. Both assessments reflected an underlying truth: China is no longer just a “rising” power. It has emerged as a truly global actor, both economically and militarily. Every day its actions affect nearly every region and every major issue, from climate change to trade, from conflict in troubled lands to competition over rules that will govern the uses of emerging technologies. To better address the implications of China's new status, both for American policy and for the broader international order, Brookings scholars conducted research over the past two years, culminating in a project: Global China: Assessing China's Growing Role in the World. The project is intended to furnish policy makers and the public with hard facts and deep insights for understanding China's regional and global ambitions. The initiative draws not only on Brookings's deep bench of China and East Asia experts, but also on the tremendous breadth of the institution's security, strategy, regional studies, technological, and economic development experts. Areas of focus include the evolution of China's domestic institutions; great power relations; the emergence of critical technologies; Asian security; China's influence in key regions beyond Asia; and China's impact on global governance and norms. Global China: Assessing China's Growing Role in the World provides the most current, broad-scope, and fact-based assessment of the implications of China's rise for the United States and the rest of the world.

How China Escaped the Poverty Trap

Author : Yuen Yuen Ang
Publisher : Cornell University Press
Page : 345 pages
File Size : 51,6 Mb
Release : 2016-09-06
Category : History
ISBN : 9781501706400

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How China Escaped the Poverty Trap by Yuen Yuen Ang Pdf

WINNER OF THE 2017 PETER KATZENSTEIN BOOK PRIZE "BEST OF BOOKS IN 2017" BY FOREIGN AFFAIRS WINNER OF THE 2018 VIVIAN ZELIZER PRIZE BEST BOOK AWARD IN ECONOMIC SOCIOLOGY "How China Escaped the Poverty Trap truly offers game-changing ideas for the analysis and implementation of socio-economic development and should have a major impact across many social sciences." ― Zelizer Best Book in Economic Sociology Prize Committee Acclaimed as "game changing" and "field shifting," How China Escaped the Poverty Trap advances a new paradigm in the political economy of development and sheds new light on China's rise. How can poor and weak societies escape poverty traps? Political economists have traditionally offered three answers: "stimulate growth first," "build good institutions first," or "some fortunate nations inherited good institutions that led to growth." Yuen Yuen Ang rejects all three schools of thought and their underlying assumptions: linear causation, a mechanistic worldview, and historical determinism. Instead, she launches a new paradigm grounded in complex adaptive systems, which embraces the reality of interdependence and humanity's capacity to innovate. Combining this original lens with more than 400 interviews with Chinese bureaucrats and entrepreneurs, Ang systematically reenacts the complex process that turned China from a communist backwater into a global juggernaut in just 35 years. Contrary to popular misconceptions, she shows that what drove China's great transformation was not centralized authoritarian control, but "directed improvisation"—top-down directions from Beijing paired with bottom-up improvisation among local officials. Her analysis reveals two broad lessons on development. First, transformative change requires an adaptive governing system that empowers ground-level actors to create new solutions for evolving problems. Second, the first step out of the poverty trap is to "use what you have"—harnessing existing resources to kick-start new markets, even if that means defying first-world norms. Bold and meticulously researched, How China Escaped the Poverty Trap opens up a whole new avenue of thinking for scholars, practitioners, and anyone seeking to build adaptive systems.

China 2049

Author : David Dollar,Yiping Huang,Yang Yao
Publisher : Brookings Institution Press
Page : 444 pages
File Size : 51,6 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.

The Chinese Economy, second edition

Author : Barry J. Naughton
Publisher : MIT Press
Page : 608 pages
File Size : 48,5 Mb
Release : 2018-03-23
Category : Business & Economics
ISBN : 9780262344074

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The Chinese Economy, second edition by Barry J. Naughton Pdf

The new edition of a comprehensive overview of the modern Chinese economy, revised to reflect the end of the “miracle growth” period. This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a quality and breadth of coverage not found in any other English-language text. In The Chinese Economy, Barry Naughton provides both a broadly focused introduction to China's economy since 1949 and original insights based on his own extensive research. This second edition has been thoroughly revised to reflect a decade of developments in China's economy, notably the end of the period of “miracle growth” and the multiple transitions it now confronts—demographic, technological, macroeconomic, and institutional. Coverage of macroeconomic and financial policy has been significantly expanded. After covering endowments, legacies, economic systems, and general issues of economic structure, labor, and living standards, the book examines specific economic sectors, including agriculture, industry, technology, and foreign trade and investment. It then treats financial, macroeconomic, and environmental issues. The book covers such topics as patterns of growth and development, including population growth and the one-child family policy; the rural and urban economies, including rural industrialization and urban technological development; incoming and outgoing foreign investment; and environmental quality and the sustainability of growth. The book will be an essential resource for students, teachers, scholars, business practitioners, and policymakers. It is suitable for classroom use for undergraduate or graduate courses.

China's Growing Role in World Trade

Author : Robert C. Feenstra
Publisher : University of Chicago Press
Page : 603 pages
File Size : 49,5 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.

Dilemmas of China's Growth in the Twenty-first Century

Author : Ligang Song
Publisher : ANU E Press
Page : 366 pages
File Size : 44,9 Mb
Release : 2012-12-01
Category : Political Science
ISBN : 9781922144591

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Dilemmas of China's Growth in the Twenty-first Century by Ligang Song Pdf

Since economic reforms began in 1978, China has been a focal point for observing the effects of market liberalisation. China has not only truly become one of the ‘emerging giants’ in the world economy but also provided a successful example for transition from a centrally-planned to a market economy. Thus, there is a keen interest about what lies ahead for such a significant economic player. Dilemmas of China’s Growth in the Twenty-First Century is a comprehensive treatment of China’s economic achievements to date and prospects for the twenty-first century. Covering topics as diverse as economic stability and growth sustainability, WTO membership and its implications, income disparity, agricultural policy, trade and investment prospects, Dilemmas of China’s Growth in the Twenty-First Century is a powerful work and essential guide to the latest trends and prospects for the Chinese economy. This work, originally published by Asia Pacific Press, is reproduced here in the interests of maintaining open access to high-quality academic works no longer in print.

China’s Economic Growth

Author : Mr.Athanasios Vamvakidis,Mr.Vivek B. Arora
Publisher : International Monetary Fund
Page : 25 pages
File Size : 45,8 Mb
Release : 2010-07-01
Category : Business & Economics
ISBN : 9781455201761

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China’s Economic Growth by Mr.Athanasios Vamvakidis,Mr.Vivek B. Arora Pdf

This paper presents some facts on China’s role in the world economy and measures the impact of China’s growth on growth in the rest of the world in the short and long term. Short-run estimates based on VARs and error-correction models suggest that spillover effects of China’s growth have increased in recent decades. Long-term spillover effects, estimated through growth regressions based on panel data, are also significant and have extended in recent decades beyond Asia. The estimates are robust to the effects of global and regional shocks, changes in model specification, and sample period.

The Chinese Economy

Author : Barry Naughton
Publisher : MIT Press
Page : 545 pages
File Size : 41,7 Mb
Release : 2007
Category : Business & Economics
ISBN : 9780262640640

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The Chinese Economy by Barry Naughton Pdf

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.

Dilemmas of China's Growth in the Twenty-first Century

Author : Ligang Song
Publisher : Asia Pacific Press
Page : 380 pages
File Size : 43,5 Mb
Release : 2002
Category : Business & Economics
ISBN : STANFORD:36105112316281

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Dilemmas of China's Growth in the Twenty-first Century by Ligang Song Pdf

Covering topics as diverse as economic stability and growth, this book is an essential guide to trends and prospects in the Chinese economy.

China's Economy Into the New Century

Author : John Wong
Publisher : World Scientific
Page : 478 pages
File Size : 52,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 9812778276

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China's Economy Into the New Century by John Wong Pdf

In the last two decades of the 20th century, China stood out as the world''s star performer in economic growth, thanks to the market-oriented reform that started in 1978. At the turn of the century, the Chinese economy faces a series of challenges to sustain its growth and stability. The two-decade-long rapid growth has effectively strengthened China''s economic power and raised its people''s standard of living. It has also transformed China from a centrally planned command economy into a OC socialist market economyOCO, which operates increasingly in line with capitalist norms. Major structural problems, however, remain and are growing acute. Weakness in the fiscal system breeds rent seeking at the local level and causes tension in the state budget. The flawed financial institutions and the biased ownership structure continue to distort resource allocation and cause huge efficiency losses. Inter-provincial and inter-regional disparity is reaching a level that threatens national unity and social stability. As China joins the World Trade Organization and becomes more integrated into the world economy, it urgently needs to improve the domestic business environment and to beef up indigenous industries for foreign competition.This volume is a collection of papers written by scholars at the East Asian Institute to address those problems during the period 1999OCo2001. The authors, with their knowledge and experience in China studies, provide in-depth observations and professional analyses of some of the most important issues for the Chinese economy at the turn of the century. Some of the observations and analyses lead to enlightening policy recommendations. The solid scholarship combined with the policy orientation of these papers will appeal greatly to researchers in academia, governments and other institutions. The policy-oriented and fact-based analyses will also be of interest to practitioners in business, including business consultants."

China's Growth

Author : Linda Yueh
Publisher : Oxford University Press
Page : 368 pages
File Size : 41,8 Mb
Release : 2013-04-11
Category : Business & Economics
ISBN : 9780199205783

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China's Growth by Linda Yueh Pdf

China's economic growth has transformed the country into a major economic power. Yet, the reasons for its rapid ascendancy are not well understood. This book sheds light on the key growth drivers, relying on micro level evidence to assess the macro trends.

Mapping China's Growth and Development in the Long Run, 221 BC to 2020

Author : Kent G Deng
Publisher : World Scientific
Page : 260 pages
File Size : 55,8 Mb
Release : 2015-08-28
Category : Business & Economics
ISBN : 9789814667579

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Mapping China's Growth and Development in the Long Run, 221 BC to 2020 by Kent G Deng Pdf

The narrative of China's history in this book is 'theme-led' rather than conventionally chronicle-based. It covers China's resource endowments, historical contingencies (such as civil wars, invasions and climate changes) and ideologies (including Legalism, Confucianism, Social Darwinism, nationalism, and Marx-Stalinism) that shaped the particular path of growth and development in China over two millennia. This book aims to take the reader through China's remarkably long and colourful saga of growth and development, full of ups, downs, twists and turns. It shows that China's experience has neither been linear nor trouble-free. China's long-term experience showcases the two fundamentals in growth and development: efficiency and equality. The lesson that one can learn from China's long history is that distributing incomes (equality) is as important as producing them (efficiency). By the same token, to secure growth and development, the political economy of government and governance is as critical in determining growth and development as resource endowments, technology, and market exchanges. This applied to China's past, and will inevitably apply to China's future. Contents:IntroductionSize and Longevity of the EmpireEmpire-building and Empire MaintenanceKey InstitutionsPublic Goods ProvisionHighlights of the Economy of the EmpireGrowth after the EmpireConcluding Remarks Readership: Academics, undergraduate and graduates students, professionals interested in China's economic history, economic performance, growth and development, and the political economy of governance. Keywords:Economic Performance;Growth and Development;The Political Economy of GovernanceKey Features:The long scope of China's historyUnique approach to the subjectRich data from Chinese sources