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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.
This book examines failure in the urbanisation of Northwest China as a result of government industrial policies that have impacted on the economic development of the region. By looking at the under-researched provinces of Gansu, Qinghai and Inner Mongolia, which make up a quarter of China's territory, Zheng and Deng challenge the common story of China's miracle growth and reveal the dark side of the country’s pursuit of modernity. Severe weather conditions, chronic drought, permanent lack of oxygen and unforgiving terrain in the Northwest make farming, manufacture and services difficult simply because people tend not to stay. Yet, China’s current political system forces growth to take place even though basic conditions and prerequisites for market-based growth are missing. This volume analyses 'ghost cities' and social tension in the process of ‘forced urbanisation’ in which huge amount of resources are wasted, the local environment is systematically damaged and ordinary people’s basic rights are brutally violated in the name of higher GDP and greater government glory.
Volume I of The Cambridge History of the Pacific Ocean provides a wide-ranging survey of Pacific history to 1800. It focuses on varied concepts of the Pacific environment and its impact on human history, as well as tracing the early exploration and colonization of the Pacific, the evolution of Indigenous maritime cultures after colonization, and the disruptive arrival of Europeans. Bringing together a diversity of subjects and viewpoints, this volume introduces a broad variety of topics, engaging fully with emerging environmental and political conflicts over Pacific Ocean spaces. These essays emphasize the impact of the deep history of interactions on and across the Pacific to the present day.
This book is a critical interpretation of a seminal and protracted debate in comparative global economic history. Since its emergence, in now classic publications in economic history between 1997-2000, debate on the divergent economic development that has marked the long-term economic growth of China and Western Europe has generated a vast collection of books and articles, conferences, networks, and new journals as well as intense interest from the media and educated public. O’Brien provides an historiographical survey and critique of Western views on the long-run economic development of the Imperial Economy of China – a field of commentary that stretches back to the Enlightenment. The book’s structure and core argument is concentrated upon an elaboration of, and critical engagement with, the major themes of recent academic debate on the “Great Divergence” and it will be of enormous interest to academics and students of economic history, political economy, the economics of growth and development, state formation, statistical measurements, environmental history, and the histories of science and globalization.
This fifth issue of the Yearbook ‘Kondratieff Waves’ has the subtitle ‘Historical and Theoretical Aspects’, as its papers cover some interesting aspects of long-wave dynamics both in historical trends and in theoretical researches. The Yearbook consists of three sections. The first section (Theoretical Aspects) includes two articles devoted to the correlation between the long waves and much longer cycles, i.e. the Industrial and the Cybernetic revolutions. The second section (Historical Aspects) presents three contributions which consider the history of the USA, technological activity since the Middle Ages and some little-known aspects of the history of long-wave dynamics research. The final section (Reviews, Notes, and Reflections) includes two reviews. This issue will be useful for economists, social scientists, as well as for a wide range of those interested in the problems of the past, present, and future of global economy and globalization.
The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.
China's continuing rapid economic growth and expanding involvement in global affairs pose major implications for the power structure of the international system. To more accurately and fully assess the significance of China's emergence for the United States and the global community, it is necessary to gain a more complete understanding of Chinese security thought and behavior. This study addresses such questions as: What are China's most fundamental national security objectives? How has the Chinese state employed force and diplomacy in the pursuit of these objectives over the centuries? What security strategy does China pursue today and how will it evolve in the future? The study asserts that Chinese history, the behavior of earlier rising powers, and the basic structure and logic of international power relations all suggest that, although a strong China will likely become more assertive globally, this possibility is unlikely to emerge before 2015-2020 at the earliest. To handle this situation, the study argues that the United States should adopt a policy of realistic engagement with China that combines efforts to pursue cooperation whenever possible; to prevent, if necessary, the acquisition by China of capabilities that would threaten America's core national security interests; and to remain prepared to cope with the consequences of a more assertive China.
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.