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The Chinese Economy: Transitions and Growth book

The Chinese Economy: Transitions and Growth by Barry Naughton

The Chinese Economy: Transitions and Growth



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The Chinese Economy: Transitions and Growth Barry Naughton ebook
Format: pdf
Page: 504
Publisher:
ISBN: 0262140950, 9781429455343


In fact, the economy is already domestically driven, but it's being propped up by government investment spending – uncertain foundations even for a country as cash-rich as China – rather than consumers themselves. During its transition to the current policy regime, it grew extremely fast, yet remains poor. The CCP is undergoing a pivotal once-in-a-decade power transition that will see its fifth generation of leaders set the future agenda for the second-largest economy in the world. While the country has maintained a political monopoly since its founding, the effects of China's rapid economic growth have triggered increasing social unrest and political destabilization that challenges the country's rise as a global power. Amidst increased domestic concern over inequality and corruption, GFI's study raises serious questions about the stability of the Chinese economy merely two weeks before the once-in-a-decade leadership transition. China is making the transition from cheap exporter to a consumer-led economy. These agreements will tear down tariff and non-tariff trade barriers to American goods and services, achieve far greater transparency in China's regulatory practices, and enable the United States to benefit from the economic dynamism of Asia - the new "engine" for global growth. As China accumulated economic and strategic clout, its neighbors benefited from its rapid GDP growth, which spurred their own economies. Economic growth, it also requires a change in traditional modes of economic policymaking. I travel to China fairly often, and it sure looks like a fast growing East Asian economy, even in the interior of the country. Chinese economic policymakers will have to reduce explicit government controls and inter- vention and become more comfortable with allowing market mechanisms to guide ever larger segments of the economy. The volume of trade misinvoicing between mainland China and the United States rose to US$72.0 billion before the financial crisis of 2008, but has declined since then, probably as a result of lower growth in bilateral trade between the countries. Independent news, analysis and commentary on the world's most exciting economy . The government is attempting a shift away from cheap exports and towards an economy fuelled by Chinese's growing ranks of consumers. Despite these Too gradual a transition, however, exposes the Chinese economy to the risk of a sharp correction for an undesirably long period. Donald Gross discusses China's political transition and its effect on Sino-US relations.

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