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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.
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.
This book is unique in covering all important topics of the Chinese economy in depth but written in a language understandable to the layman and yet challenging to the expert. Beginning with entrepreneurship that propels the dynamic economic changes in China today, the book is organized into four broad parts to discuss China's economic development, to analyze significant economic issues, to recommend economic policies and to comment on the timely economic issues in the American economy for comparison.Unlike a textbook, the discussion is original and thought-provoking. It is written by a most distinguished economist who has studied the Chinese economy for thirty years, after making breathtaking contributions to the fields of econometrics, applied economics and dynamic economics and serving as a major adviser to the government of Taiwan during its period of rapid development in the 1960s and 1970s. In the last thirty years, the author has served as a major adviser to the government of China on economic reform and important economic policies and cooperated with the Ministry of Education to introduce and promote the development of modern economics in China, including training hundreds of economists in China and placing many graduate students to pursue a doctoral degrees in economics in leading universities in the US and Canada. These graduates now plays pivotal roles in China and in the US in academics, business or government institutions. The essays, a culmination of the author's expertise in China over five decades, are being widely read in China. When the author became professor emeritus at Princeton, the University named the Econometric Research Program as the Gregory C Chow Econometric Research Program in his honor.
This new textbook on the Chinese economy clearly presents all that the world's second largest economy has accomplished, as well as what work remains to be done. As economic development in China for the last 30 years has been mostly "top down," this text focuses on the macroeconomic and monetary sides of the economy. Utilising case studies throughout, the book uses not only the traditional macroeconomics tools in explaining the Chinese economy, but also takes a novel approach by assessing China as a company. Through employment of models from finance, such as cash flows and valuations, the text is able to dig deeper into understanding the fundamental characteristics of the Chinese economy. The book also presents extremely useful analysis of the comparisons and contrasts between Chinese economic activity and that of the U.S. economy. eResources including chapter questions with solutions and lecture slides will be available on this webpage.
China's rapid rise to become the world's second largest economy has resulted in an unprecedented impact on the global system and an urgent need to understand the more about the newest economic superpower. The Routledge Handbook of the Chinese Economy is an advanced-level reference guide which surveys the current economic situation in China and its integration into the global economy. An internationally renowned line-up of scholars contribute chapters on the key components of the contemporary economy and their historical foundations. Topics covered include: the history of the Chinese economy from ancient times onwards; economic growth and development; population, the labor market, income distribution, and poverty; legal, political, and financial institutions; and foreign trade and investments. Offering a cutting-edge overview of the Chinese economy, the Handbook is an invaluable resource for academics, researchers, economists, graduate, and undergraduate students studying this ever-evolving field.
An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.
Liu Shucheng is a famous Chinese economist who has a major impact on the study of China's macroeconomics and quantitative economics. Selecting some of Liu's representative studies on Chinese macroeconomy, this book will be a valuable reference for understanding and studying Chinese economy. The first five papers appear in the author's collected works for the first time. They mainly study the overall balance of Chinese macroeconomic operation and the relative economic mathematical models. The commodity-currency balance sheet improved the earliest input-output model introduced to China in the 1980s, and the author's frontier research is of great importance for Chinese economic study. In attempting to solve the problems caused by incontrollable fixed assets investment, the author examines the periodicity of fixed assets investment in China, including the characteristics, causes, and the impact of investment periodic fluctuation on economic periodic fluctuation. Besides, the author studies Phillips curves in China in a comprehensive and intensive way. These in-depth analysis provide original insights based on the author's extensive research.
After the 1978 Economic Reform, China's economic development has been on a fast track ever since. Later on, the successful accession into the WTO in 2001 accelerated China's economic transformation and made it more integrated with the world. Today, as the second-largest economy in the world, China has earned herself a leading role on the world stage beyond dispute. This book provides readers with answers to why and how China functions as a leader in the world economy. The book surveys China's economy in four parts economic institutions, economic problems, important economic policies and selective economic analysis, especially including many hot issues like revaluation of the Reminbi, China's high inflation rate and its relations with other emerging markets, etc. These essays are the author's latest research findings from his close and constant observation and research on China's economy in the past 30 years, and have been published in China's newspapers with a large number of readers. Meanwhile, this book is written in a manner that is thorough and objective without being too technical. It could serve as a reference book for professionals as the treatment of many topics is original and illuminating, and as an authoritative guide for general readers who are eager to understand China's economic development better and get an idea of China's economic future.
China has quickly moved into a critical point in the sense that its past performance in economic growth and development has created so many unsolved problems, and for such problems to be addressed, a better understanding of these problems and a clear policy framework are required for policy makers to conduct reforms. Based on highOColevel empirical research on China''s economic development by each of the contributors, this edited book provides an in-depth and clear analysis of many of important issues facing China''s move to new phase of economic development and transformation, and discusses policy issues involved in further reforms.
In Understanding China’s Economic Indicators, leading economist and Wall Street Journal columnist Thomas M. Orlik introduces 35 of China's most significant economic statistics. Orlik explains why each indicator matters, how it is collected and computed, and its impact on equity, commodity, and currency markets. As China has emerged as a central player in the global economy, more and more investors are seeking profitable opportunities there. To choose the right investments, it's crucial to understand China's economic environment–and that means finding, interpreting, and utilizing China's growing base of economic indicators. Orlik helps investors make sense of data on everything from Chinese GDP growth to inflation, unemployment, bond yields, electricity production, and aircraft passenger numbers. He draws on the best information supplied by the Chinese government's statistical agency, ministries, and industry associations, as well as private sources. Each indicator is clearly described, along with a practical discussion of its implications for investors.