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After more than four decades of economic reform, China has emerged as the world’s second largest economy both in terms of size and the volume of international trade. It has also become highly industrialized, while services now account for more than half of total output. China’s economic success is notably marked by increasing integration with the global economy as well as reform in its domestic sectors and economic policies. This course explores the development in the major sectors of China’s economy and their current challenges. After a brief review of the pre-reform period and an overall view of the current situation, the course will go into the following topics in detail: trade, inward and outward foreign investment, money and banking, the renminbi, finance, fiscal policy, enterprises, the labor market and regional development.
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. 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.
Has the Chinese economy emerged from the pandemic crisis relatively unscathed? What are the long-term prospects for its economy? This book explores the challenges faced by the Chinese economy in the transition towards a high-income economy, including agricultural development, finance and financial system reform, RMB internationalisation, urbanisation trends, and topics related to innovation, corporate sector development and market competition.
Upon completing the course, students should be able to:
