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The authors of this work argue strongly that the decentralization that has taken place in China over the past two decades threatens to undermine the future of reform and perhaps even the state itself. They contend that reform has undermined state capacity in China, and that the state's fiscal revenues, as a percentage of GNP, have declined and will continue to decline into the foreseeable future, thereby weakening China's ability to mobilize resources for modernization.
Book Synopsis The Chinese Economy in Crisis by : Xiaohu (Shawn) Wang
Download or read book The Chinese Economy in Crisis written by Xiaohu (Shawn) Wang and published by Routledge. This book was released on 2015-04-29 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors of this work argue strongly that the decentralization that has taken place in China over the past two decades threatens to undermine the future of reform and perhaps even the state itself. They contend that reform has undermined state capacity in China, and that the state's fiscal revenues, as a percentage of GNP, have declined and will continue to decline into the foreseeable future, thereby weakening China's ability to mobilize resources for modernization.
1. China's economy 2008 and outlook for 2009 : crisis of a sharp slowdown / John Wong -- 2. Recession averted? China's domestic response to the global financial crisis / Yang Mu and Lim Tin Seng -- 3. China's decisive response to the economic crisis bears fruits / Sarah Y. Tong -- 4. Pearl River Delta in a crisis of industrialisation / Huang Yanjie and Chen Shaofeng -- 5. Impact of the global economic crisis on the Pearl River Delta and Yangtze River Delta regions / Yu Hong -- 6. Taiwan's economy in the financial crisis and its outlook / Zhao Hong -- 7. Hong Kong's economy on the road to recovery? / Zhang Yang -- 8. Financial crisis offers respite for the Macao economy / Zhang Yang and Fung Kwan -- 9. China's trade prospects and China-ASEAN trade relations / Sarah Y. Tong and Chong Siew Keng -- 10. Sino-South Korean bilateral trade in the current economic crisis / Zhou Shengqi -- 11. Ascendance of China's new left amidst the global ginancial crisis / Bo Zhiyue and Chen Gang -- 12. Will social stability in China be undermined in the financial crisis? / Zhao Litao and Huang Yanjie -- 13. The international financial crisis and China's external response / Zheng Yongnian and Lye Liang Fook
Book Synopsis China and the Global Economic Crisis by : Yongnian Zheng
Download or read book China and the Global Economic Crisis written by Yongnian Zheng and published by World Scientific. This book was released on 2010 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. China's economy 2008 and outlook for 2009 : crisis of a sharp slowdown / John Wong -- 2. Recession averted? China's domestic response to the global financial crisis / Yang Mu and Lim Tin Seng -- 3. China's decisive response to the economic crisis bears fruits / Sarah Y. Tong -- 4. Pearl River Delta in a crisis of industrialisation / Huang Yanjie and Chen Shaofeng -- 5. Impact of the global economic crisis on the Pearl River Delta and Yangtze River Delta regions / Yu Hong -- 6. Taiwan's economy in the financial crisis and its outlook / Zhao Hong -- 7. Hong Kong's economy on the road to recovery? / Zhang Yang -- 8. Financial crisis offers respite for the Macao economy / Zhang Yang and Fung Kwan -- 9. China's trade prospects and China-ASEAN trade relations / Sarah Y. Tong and Chong Siew Keng -- 10. Sino-South Korean bilateral trade in the current economic crisis / Zhou Shengqi -- 11. Ascendance of China's new left amidst the global ginancial crisis / Bo Zhiyue and Chen Gang -- 12. Will social stability in China be undermined in the financial crisis? / Zhao Litao and Huang Yanjie -- 13. The international financial crisis and China's external response / Zheng Yongnian and Lye Liang Fook
The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results ? both positive and negative aspects in the middle and long term. The 2008?09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession. According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy. The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund. The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player.Contents: IntroductionThe 2008 Financial Crisis and the Chinese EconomyShanghai as an International Financial CentreThe Renminbi DebatePromoting China-ASEAN Economic CooperationThe Flying Geese ModelReflections on Developmental ModelsBy Way of Conclusion: Some Random Thoughts Readership: Academics interested in Asian Studies, China's economy and the financial crisis; general public.
Book Synopsis Global Financial Crisis and Challenges for China by : Dr Mu Yang
Download or read book Global Financial Crisis and Challenges for China written by Dr Mu Yang and published by World Scientific. This book was released on 2012-07-25 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results ? both positive and negative aspects in the middle and long term. The 2008?09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession. According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy. The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund. The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player.Contents: IntroductionThe 2008 Financial Crisis and the Chinese EconomyShanghai as an International Financial CentreThe Renminbi DebatePromoting China-ASEAN Economic CooperationThe Flying Geese ModelReflections on Developmental ModelsBy Way of Conclusion: Some Random Thoughts Readership: Academics interested in Asian Studies, China's economy and the financial crisis; general public.
China's Crisis of Success provides new perspectives on China's rise to superpower status, showing that China has reached a threshold where success has eliminated the conditions that enabled miraculous growth. Continued success requires re-invention of its economy and politics. The old economic strategy based on exports and infrastructure now piles up debt without producing sustainable economic growth, and Chinese society now resists the disruptive change that enabled earlier reforms. While China's leadership has produced a strategy for successful economic transition, it is struggling to manage the politics of implementing that strategy. After analysing the economics of growth, William H. Overholt explores critical social issues of the transition, notably inequality, corruption, environmental degradation, and globalisation. He argues that Xi Jinping is pursuing the riskiest political strategy of any important national leader. Alternative outcomes include continued impressive growth and political stability, Japanese-style stagnation, and a major political-economic crisis.
Book Synopsis China's Crisis of Success by : William H. Overholt
Download or read book China's Crisis of Success written by William H. Overholt and published by Cambridge University Press. This book was released on 2018-01-11 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's Crisis of Success provides new perspectives on China's rise to superpower status, showing that China has reached a threshold where success has eliminated the conditions that enabled miraculous growth. Continued success requires re-invention of its economy and politics. The old economic strategy based on exports and infrastructure now piles up debt without producing sustainable economic growth, and Chinese society now resists the disruptive change that enabled earlier reforms. While China's leadership has produced a strategy for successful economic transition, it is struggling to manage the politics of implementing that strategy. After analysing the economics of growth, William H. Overholt explores critical social issues of the transition, notably inequality, corruption, environmental degradation, and globalisation. He argues that Xi Jinping is pursuing the riskiest political strategy of any important national leader. Alternative outcomes include continued impressive growth and political stability, Japanese-style stagnation, and a major political-economic crisis.
A controversial look at the impending Chinese economic collapse—the history behind it, its contemporary causes, and its dire implications for the global economy All the experts agree: the 21st century belongs to China. Given America's looming insolvency and the possibility of the collapse of the U.S. dollar, who can doubt that China is poised to take over the role of economic superpower? Written by political economist and leading financial journalist James Gorrie, this book offers a highly controversial, contrarian view of contemporary China. Drawing upon a wealth of historical and up-to-the-minute data, Gorrie makes a strong case that China, itself, is on the verge of an economic crisis of epic proportions. He explains how, caught in a recurrent boom/bust cycle that has played itself out several times over the past sixty years, China is again approaching total economic and social collapse. But with one important difference this time: they may very well take the entire global economy down with them. Explores the Chinese communist party's unfortunate history of making costly and very bloody mistakes on an enormous scale One-by-one Gorrie analyzes those critical mistakes and explains how they may lead to economic collapse in China and global depression Describes Chinese "cannibal capitalism," and where its massive abuse of the country's environment, people, and arable lands is leading that country and the world economy Chronicles China's history of recurring economic crisis and explains why all the evidence suggests that history is about to repeat itself
Book Synopsis The China Crisis by : James R. Gorrie
Download or read book The China Crisis written by James R. Gorrie and published by John Wiley & Sons. This book was released on 2013-05-08 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: A controversial look at the impending Chinese economic collapse—the history behind it, its contemporary causes, and its dire implications for the global economy All the experts agree: the 21st century belongs to China. Given America's looming insolvency and the possibility of the collapse of the U.S. dollar, who can doubt that China is poised to take over the role of economic superpower? Written by political economist and leading financial journalist James Gorrie, this book offers a highly controversial, contrarian view of contemporary China. Drawing upon a wealth of historical and up-to-the-minute data, Gorrie makes a strong case that China, itself, is on the verge of an economic crisis of epic proportions. He explains how, caught in a recurrent boom/bust cycle that has played itself out several times over the past sixty years, China is again approaching total economic and social collapse. But with one important difference this time: they may very well take the entire global economy down with them. Explores the Chinese communist party's unfortunate history of making costly and very bloody mistakes on an enormous scale One-by-one Gorrie analyzes those critical mistakes and explains how they may lead to economic collapse in China and global depression Describes Chinese "cannibal capitalism," and where its massive abuse of the country's environment, people, and arable lands is leading that country and the world economy Chronicles China's history of recurring economic crisis and explains why all the evidence suggests that history is about to repeat itself
Book Synopsis Sustaining China's Economic Growth After the Global Financial Crisis by : Nicholas R. Lardy
Download or read book Sustaining China's Economic Growth After the Global Financial Crisis written by Nicholas R. Lardy and published by Peterson Institute. This book was released on 2012 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt:
An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.
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 The Impact of the Global Financial Crisis on the Chinese Economy and China's Policy Responses by : Yongding Yu
Download or read book The Impact of the Global Financial Crisis on the Chinese Economy and China's Policy Responses written by Yongding Yu and published by . This book was released on 2010 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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."
Book Synopsis China's Economy Into the New Century by : John Wong
Download or read book China's Economy Into the New Century written by John Wong and published by World Scientific. This book was released on 2002 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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."
This book examines China's response to the 2007-2008 global financial crisis, and the resulting new status acquired by China within the international economy. It considers the things China did to weather the crisis, discussing the stimulus package put in place by China and how China's banks coped, but above all examines the measures which countries outside China look to China to put in place in order to better encourage and secure world-wide economic recovery, measures such as currency revaluation, tax reform and greater stimulation of domestic demand. The book contrasts China's response to the crisis, and China's increasingly central role in the world economy, with the responses of the European Union. The book also assesses China's increasingly important regional role, in particular its dialogue with the new Japanese government, and China's positioning towards Southeast Asia, and also discusses the growth of Chinese foreign direct investment.
Book Synopsis China and the Global Financial Crisis by : Jean-Pierre Cabestan
Download or read book China and the Global Financial Crisis written by Jean-Pierre Cabestan and published by Routledge. This book was released on 2012 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines China's response to the 2007-2008 global financial crisis, and the resulting new status acquired by China within the international economy. It considers the things China did to weather the crisis, discussing the stimulus package put in place by China and how China's banks coped, but above all examines the measures which countries outside China look to China to put in place in order to better encourage and secure world-wide economic recovery, measures such as currency revaluation, tax reform and greater stimulation of domestic demand. The book contrasts China's response to the crisis, and China's increasingly central role in the world economy, with the responses of the European Union. The book also assesses China's increasingly important regional role, in particular its dialogue with the new Japanese government, and China's positioning towards Southeast Asia, and also discusses the growth of Chinese foreign direct investment.
