China in the Global Economy China in the World Economy The Domestic Policy Challenges: Synthesis Report PDF Download
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Author: OECD
Publisher: OECD Publishing
ISBN: 9264196285
Category :
Languages : en
Pages : 76
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Book Description
This publication presents a synthesis of the main findings and policy recommendations of China in the World Economy: Domestic Policy Challenges.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264196285
Category :
Languages : en
Pages : 76
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Book Description
This publication presents a synthesis of the main findings and policy recommendations of China in the World Economy: Domestic Policy Challenges.
Author: Congressional Research Service
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976466953
Category :
Languages : en
Pages : 52
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Book Description
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.
Author: David Dollar
Publisher: Brookings Institution Press
ISBN: 0815738064
Category : Political Science
Languages : en
Pages : 444
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Book Description
How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
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Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264062181
Category :
Languages : zh-CN
Pages : 78
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Book Description
This publication presents a synthesis of the main findings and policy recommendations of China in the World Economy: Domestic Policy Challenges. After more than two decades of progress in market reforms and trade and investment liberalisation, the ...
Author: OECD
Publisher: OECD Publishing
ISBN: 9264196277
Category :
Languages : en
Pages : 779
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Book Description
Drawing on the experiences of OECD Members over the past 50 years, and the Organisation’s extensive work with non-Member economies around the world, this landmark study provides readers with a comprehensive view of the interrelated domestic policy issues at stake and specific recommendations.
Author: Eswar Prasad
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264008446
Category :
Languages : en
Pages : 577
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Book Description
While China's economy has shown impressive dynamism following the increased reliance on market-based policies, the governance structures themselves will have to be reformed deeply for this growth to be sustainable. This report examines the many challenges of governance which China is facing.
Author: Daniel A. Bell
Publisher: Princeton University Press
ISBN: 1400883482
Category : Political Science
Languages : en
Pages : 355
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Book Description
How China's political model could prove to be a viable alternative to Western democracy Westerners tend to divide the political world into "good" democracies and “bad” authoritarian regimes. But the Chinese political model does not fit neatly in either category. Over the past three decades, China has evolved a political system that can best be described as “political meritocracy.” The China Model seeks to understand the ideals and the reality of this unique political system. How do the ideals of political meritocracy set the standard for evaluating political progress (and regress) in China? How can China avoid the disadvantages of political meritocracy? And how can political meritocracy best be combined with democracy? Daniel Bell answers these questions and more. Opening with a critique of “one person, one vote” as a way of choosing top leaders, Bell argues that Chinese-style political meritocracy can help to remedy the key flaws of electoral democracy. He discusses the advantages and pitfalls of political meritocracy, distinguishes between different ways of combining meritocracy and democracy, and argues that China has evolved a model of democratic meritocracy that is morally desirable and politically stable. Bell summarizes and evaluates the “China model”—meritocracy at the top, experimentation in the middle, and democracy at the bottom—and its implications for the rest of the world. A timely and original book that will stir up interest and debate, The China Model looks at a political system that not only has had a long history in China, but could prove to be the most important political development of the twenty-first century.
Author: Esther Lam
Publisher: Kluwer Law International B.V.
ISBN: 9041144838
Category : Law
Languages : en
Pages : 249
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Book Description
Joining the World Trade Organization (WTO) enables China to reform its legal order and to move towards a system incorporating major principles of the rule of law. The WTO also serves as an external impetus that guides contemporary Chinese legal reform and orients it in ways that domestic forces alone could not achieve and sustain. Much discussion on the WTO and the Chinese legal system has focused on the issue of compliance ― whether the Chinese legal system has the capacity to fulfill China’s WTO accession commitments. The focus of this work is less concerned with compliance issues per se, but rather with the extent to which the WTO’s requirements vis-à-vis China actually affect the Chinese legal system. The fine difference between the two approaches lies in the fact that efforts by the Chinese government to meet its WTO obligations necessarily impact the Chinese legal order and its way of functioning, even if their end results may or may not lead to full compliance with what is required of it by the WTO. This timely work exposes many behind-the-scene dealings and relies on valuable information that is not publicly available. Not only does it preserve for the historical record important details of the Chinese WTO accession, it also sheds light on the travaux préparatoires of China’s accession agreement and the negotiation history of important issues, some of which remain relevant and highly contentious today. As expressed by WTO Director-General Pascal Lamy in his foreword to the book, ‘through this work, Esther Lam succeeds in demonstrating how WTO membership can benefit both the acceding country and the wider WTO family of nations.’
