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This book investigates key developments in China’s manufacturing industry from the perspectives of general evaluation, regional analysis, industrial analysis and enterprise analysis. Based on data for 1978 to 2013, it details the characteristics of the different stages, typical development patterns, and the international status of China’s manufacturing sector. It also provides an in-depth portrait of China’s new-type manufacturing sector based on four main aspects, namely, economic creativity, technological innovation capability, energy conservation capability, and environmental protection capability, and subsequently assesses the status quo of this sector, analyzes the regional development characteristics, and ranks China’s top 10 provinces and top 10 cities in terms of manufacturing. The book outlines the industrial characteristics of China’s manufacturing sector and analyzes the factors influencing its development and lastly, it examines China’s listed manufacturing enterprises, ranking and providing brief snapshots of the top 50 most respected enterprises. This book is intended for all those interested in the development of China’s manufacturing sector, especially university instructors and students, governmental officials and managerial personnel in the manufacturing sector and related enterprises.
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.
Sustainable Peace in Northeast Asia examines the causes of lasting and complex tensions in the region from underlying political, historical, military and economic perspectives; discusses their historical development and political-economic implications for the world; and explores possible solutions to build lasting peace. The book is unique in that it approaches the topic from the historical perspective of each constituent country in the region. Major global powers such as the United States and Russia have also closely engaged in the political and economic affairs of this region through a network of alliances, diplomacy, trade and investment. The book also discusses the influence of these external powers over the crisis, their political and economic objectives in the region, their strategies and the dynamics that their engagement has created. Both South Korea and North Korea have sought reunification of the Korean peninsula, which will have a substantial impact on the region. The book examines its justification, feasibility and effects for the region. The book discusses the role of Mongolia in the context of the power dynamics in Northeast Asia. A relatively small country, in terms of its population, Mongolia has rarely been examined in this context; Sustainable Peace in Northeast Asia makes a fresh assessment of its potential role.
China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is slowing, while consumption imports are slowly rising. The evolution of Chinese trade, investment, and consumption patterns offers opportunities and challenges to low-wage, low-income countries, including China’s neighbors in the Mekong region. Cambodia, Lao P.D.R., Myanmar, and Vietnam (the CLMV) are all open economies that are highly integrated with China. Rebalancing in China may mean less of a role for commodity exports from the region, but at the same time, the CLMV’s low labor costs suggest that manufacturing assembly for export could take off as China becomes less competitive, and as China itself demands more consumption items. Labor costs, however, are only part of the story. The CLMV will need to strengthen their infrastructure, education, governance, and trade regimes, and also run sound macro policies in order to capitalize fully on the opportunities presented by China’s transformation. With such policy efforts, the CLMV could see their trade and integration with global supply chains grow dramatically in the coming years.
Technology and globalization are threatening manufacturing’s traditional ability to deliver both productivity and jobs at a large scale for unskilled workers. Concerns about widening inequality within and across countries are raising questions about whether interventions are needed and how effective they could be. Trouble in the Making? The Future of Manufacturing-Led Development addresses three questions: - How has the global manufacturing landscape changed and why does this matter for development opportunities? - How are emerging trends in technology and globalization likely to shape the feasibility and desirability of manufacturing-led development in the future? - If low wages are going to be less important in defining competitiveness, how can less industrialized countries make the most of new opportunities that shifting technologies and globalization patterns may bring? The book examines the impacts of new technologies (i.e., the Internet of Things, 3-D printing, and advanced robotics), rising international competition, and increased servicification on manufacturing productivity and employment. The aim is to inform policy choices for countries currently producing and for those seeking to enter new manufacturing markets. Increased polarization is a risk, but the book analyzes ways to go beyond focusing on potential disruptions to position workers, firms, and locations for new opportunities. www.worldbank.org/futureofmanufacturing
Very little has been written on industrialization and deindustrialization in Asia and Africa. This reference work sheds illuminating light upon the industrial development in Asia and Africa. It also provides an in-depth look into China’s engagement and migrant labour in Africa. The book also addresses the roles of public-private partnership (PPP) and international development cooperation and how they are fundamental to industrialization in Asia and Africa. Designing Integrated Industrial Policies will be a very useful reference particularly as a how-to guide on industrial promotion and designing integrated industrial policies not only for economic growth and job creation but also for "inclusive" development. It comes with country cases and illustrates useful tools for industrial policy simulation and for evidence-based policy making through these concrete examples.
This paper uses Ghana as a case study to illustrate the extent to which Chinese manufacturing firms are driving manufacturing in an African country. Through a combination of desktop and field research, the author finds that the total number of Chinese manufacturing investments in Ghana indeed increased during past decade, but quite a few projects have been abandoned or not implemented because of the unfavorable investment environment. Small and large manufacturing projects can be found in different sectors, such as plastics, steel, pharmaceuticals, and others. All of the manufacturing investments target local or regional markets, either taking advantage of local raw materials or seeing opportunities in a market with little competition. Transitioning from trading to manufacturing investment and clustering are identified as the main patterns by which Chinese investors establish themselves in Ghana. Chinese firms source simple raw materials from local suppliers but import industrial supplies from abroad. Learning from Chinese business models, a few local businessmen have started their own manufacturing projects, mostly in the plastics recycling sector, but a lack of capital appears to keep some local players from moving up the value chain. Ghana’s weak economy itself is limiting technology transfer and local linkages between Chinese firms and Ghanaians.
China's growing economic involvement in Sub-Saharan Africa and Latin America has been a source of major controversy. The official Chinese position maintains that the growth of bilateral relations is of mutual benefit and provides a good example of South-South cooperation. Critics on the other hand see the economic relations between China and other developing countries as highly unequal with most of the benefits accruing to China and a few local elites. They also point to negative socio-economic, political, and environmental consequences. How China is Reshaping the Global Economy: Development Impacts in Africa and Latin-America throws more light on these controversies through a comparative study of China's impact on the two regions. It looks not just at bilateral relations between China and the two regions but also analyses the changes in the global economy brought about as a result of the shift in economic activity from North America and Western Europe to Asia. How China is Reshaping the Global Economy looks at the factors which led to rapid economic growth in China and the way in which this has affected global manufacturing, commodity markets, the international presence of Chinese companies, and financial glows. It examines the different forms of Chinese economic involvement in Sub-Saharan Africa and Latin America, the main drivers, and economic, social, political, and environmental consequences. It ends with a comparison of the two regions that highlights the importance of different histories and political and institutional contexts in determining the impacts of China.
This book is a new exploration of the paradigm of innovation with Chinese characteristics in the context of a new era. Based on the evolution of innovation paradigm theories at domestic and international level, the book initiates a dialogue between Eastern and Western innovation theories. The book proposes "holistic innovation" which is defined as an open, collaborative, and total innovation under the guidance of strategy, in order to make effective allocation of resources. This book further discusses and summarizes the application of holistic innovation in the upgrading of global value chains, China's high value-added manufacturing, the urban Internet, rural development, and other related corporate and industrial cases, regional development, and national strategies.