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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.
This publication is targeted at current and prospective official financiers of the Asian Development Bank’s grant and loan operations. It explains the wide range of financing options available to partners seeking to expand their commitment to developing the Asia and Pacific region. It also provides case studies showing how donor contributions make service delivery more effective and how they improve the lives of poor people. Finally, this publication outlines where donor funds can best support ADB’s core areas of operation under Strategy 2020.
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.
To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
The United States and China are each actively pursuing development of a Blue Economy to promote greater marine, maritime, and naval capabilities through more innovative, sustainable and environmentally friendly means. This book examines China’s approach to developing a Blue Economy, compares China’s efforts to developments in the United States, analyses prospects for cooperation, and competition, and outlines strategic implications arising from China’s linkage of the Blue Economy development concept to its Maritime Silk Road initiative. An understanding of the Blue Economy as it is being pursued in China and the Indo-Pacific region is extremely relevant for academics, industry professionals, and government officials. Features Describes in detail the development of the Blue Economy concept in China over time Includes geostrategic analysis based on the author's extensive research and explains the implications of China's Blue Economy strategy for the Indo-Pacific region Discusses timely and important topics of interest to government, industry, and academic experts, both present and future Adds value to the studies, interdisciplinary collaborations, and expertise on a complex issue of strategic, technological, and economic concern Clarifies the linkages among Blue Economy, environmental and sustainable development and recognizes the importance of understanding the Blue Economy concept at a global scale This book is written for everyone interested in Blue Economy studies, those who study and practice international relations, environmental policy and development, marine policy and governance, maritime and naval strategy, international and Asian affairs, as well as Indo-Pacific security matters.
This report summarizes the proceedings of the Public-Private Partnerships (PPP) in Urbanization workshop held in Beijing on 22-23 August 2013. Some 200 participants from the central government, 35 local governments, financiers, private service providers, academic and research institutions, and development partners joined the workshop to share their knowledge and good practice approaches to PPPs in the People's Republic of China and other countries.
Treaties and International Agreements Registered or Filed and Recorded with the Secretariat of the United Nations
This stimulating open access volume details the innovative work of the Pan Institution Network for Global Health in creating collaborative research-based answers to large-scale health issues. Equitable partnerships among member universities representing North America, Africa, Asia, and Europe reverse standard cross-national dynamics to develop locally relevant responses to health challenges as well as their underlying disparities. Case studies focusing on multiple morbidities and effects of urbanization on health illustrate open dialogue in addressing HIV, maternal/child health, diabetes, and other major concerns. These instructive examples model collaborations between global North and South as meaningful steps toward the emerging global future of public health. Included in the coverage: Building sustainable networks: introducing the Pan Institution Network for Global Health Fostering dialogues in global health education: a graduate and undergraduate approach Provider workload and multiple morbidities in the Caribbean and South Africa Project Redemption: conducting research with informal workers in New York City Partnership and collaboration in global health: valuing reciprocity Global Health Collaboration will interest faculty working within the field of global health; scholars within public health, health policy, and cognate disciplines; as well as administrators looking to develop international university partnerships around global health and graduate students in the areas of global health, health administration, and public health and related social sciences (e.g., sociology, anthropology, demography).