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China's economic rise has raised two important questions which are tackled by this book. The first concerns the stability and the sustainability of China's growth, which has been accompanied by growing internal and external imbalances, rising inequality, environmental degradation and an increased risk of climate change, and has happened in spite of the continuing, if diminished, role of the state in many sectors of the economy. The second concerns trying to guess what the effect of China's rise will be on its relations with the rest of the region, the globe and the existing international order.
List of contents
1. Introduction 2. China's Rapid Growth and Development: A Historical and International Context 3. Double Transition and China's Export-Led Growth 4. Understanding Changing Trends in Chinese Wages 5. Climate Change Mitigation: A Defining Challenge for China 6. Financial Reform and Economic Development in China 7. Capital Account Liberalization and the Role of the renminbi 8. Chinese Trade Policy after Ten Years in the World Trade Organisation: A Post-Crisis Stocktake 9. Issues and Options for Social Security Reform in China 10. Chinese Outward Direct Investment: Is there a China Model? 11. History Matters: China and Global Governance
About the author
Yao Yang, China Center of Economic Research, Peking University
Yiping Huang, China Center of Economic Research, Peking University
Miaojie Yu, China Center of Economic Research, Peking University
Summary
The remarkable rise of China over the past three decades has been unprecedented in both its scale and speed. Analysts around the world have attempted to understand the causes of this unique event and to predict how long it will last.
China's rise has also raised two important questions. The first concerns the stability and the sustainability of China’s growth, which has been accompanied by growing internal and external imbalances, rising inequality at home, environmental degradation and an increased risk of catastrophic climate change, and has happened in spite of the continuing, if diminished, role of the state in many sectors of the economy. The second concerns trying to guess what the effect of China’s rise will be on its relations with the rest of the region, the world and the existing global order. It seems only a matter of time until China becomes the world’s largest economy, and history suggests that it is unthinkable that this event would be without geopolitical consequences.
The chapters in this volume draw on papers originally presented to the 34th Pacific Trade and Development Conference held in Beijing in 2010 to discuss these two big questions and China’s changing role in the world economy. This book will be welcomed by students and scholars of Chinese economics, business and politics, and those interested in the pervasive impact of China’s development on the global economy.
