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Author: Nicholas R. Lardy
Publisher: Brookings Institution Press
ISBN: 9780815791539
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
China's Unfinished Economic Revolution offers a fundamentally different interpretation of China's economic reform. The common view that China's gradualistic approach has served it well overlooks the fact that state-owned banks for the last two decades have channeled a large share of sharply rising household savings into what are mostly unreformed, money-losing companies. The result is that several of China's largest financial institutions now are insolvent. To avoid a major domestic banking crisis the book argues that China must recapitalize and restructure its domestic banking system and end the long-standing practice of making lending decisions based on political rather than economic criteria. Nicholas Lardy explains that this course will inevitably be costly in political terms, in part because it will lead for a time to a slower rate of economic growth. But the alternative is even less attractive—permanently slower growth, continued macroeconomic instability, an inability to meet the expectations of the international community for the opening of its domestic financial markets, and insufficient resources to deal with severe environmental deterioration, growing water shortages, and a rapidly aging population. This timely book also analyzes the new reform initiatives China has launched in the wake of the Asian financial crisis, suggests additional steps that must be taken, and evaluates the implications for U.S. policy.
Author: Nicholas R. Lardy
Publisher: Brookings Institution Press
ISBN: 9780815791539
Category : Business & Economics
Languages : en
Pages : 332
Get Book Here
Book Description
China's Unfinished Economic Revolution offers a fundamentally different interpretation of China's economic reform. The common view that China's gradualistic approach has served it well overlooks the fact that state-owned banks for the last two decades have channeled a large share of sharply rising household savings into what are mostly unreformed, money-losing companies. The result is that several of China's largest financial institutions now are insolvent. To avoid a major domestic banking crisis the book argues that China must recapitalize and restructure its domestic banking system and end the long-standing practice of making lending decisions based on political rather than economic criteria. Nicholas Lardy explains that this course will inevitably be costly in political terms, in part because it will lead for a time to a slower rate of economic growth. But the alternative is even less attractive—permanently slower growth, continued macroeconomic instability, an inability to meet the expectations of the international community for the opening of its domestic financial markets, and insufficient resources to deal with severe environmental deterioration, growing water shortages, and a rapidly aging population. This timely book also analyzes the new reform initiatives China has launched in the wake of the Asian financial crisis, suggests additional steps that must be taken, and evaluates the implications for U.S. policy.
Author: Nicholas R. Lardy
Publisher: Peterson Institute
ISBN: 088132647X
Category : China
Languages : en
Pages : 213
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Book Description
Author: C. Fred Bergsten
Publisher: Peterson Institute
ISBN: 0881324345
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
Helps the United States and the rest of the world better comprehend the facts and dynamics underpinning China's rise. This book analyzes the data on China's economy, foreign and domestic policy, and national security.
Author: Nicholas R. Lardy
Publisher: Peterson Institute for International Economics
ISBN:
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
China is playing a growing role in the world economy. It is one of the world's fastest growing countries and is the tenth largest exporter. China is also a significant recipient of foreign aid and a major borrower on international capital markets. Even more significantly, it is attracting vast amounts of foreign direct investment. China in the World Economy examines the implications of China's emergence as a major player in the world economy. Its integration into the international economic order poses major difficulties for the rest of the world. These problems including bringing China's mixed market/centrally planned economy into the GATT, adapting to competition from labor-intensive Chinese exports, encouraging further market-oriented reform, and accommodating its demand for international capital. But China's participation in the global economy also offers important opportunities for trade, investment and international cooperation to promote world peace and stability. Nicholas Lardy anticipates that China will continue on a rapid growth path, thus magnifying the policy challenges and opportunities for its trading partners, including the U. S. He recommends a series of steps to facilitate China's full participation in the world economy.
Author: Elizabeth Economy
Publisher: Oxford University Press
ISBN: 0190866071
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
In The Third Revolution, Elizabeth Economy, one of America's leading China scholars, provides an authoritative overview of contemporary China that makes sense of all of the seeming inconsistencies and ambiguities in its policies and actions.
Author: David Sheff
Publisher: Harper Collins
ISBN: 0061741221
Category : Business & Economics
Languages : en
Pages : 487
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Book Description
Imagine living through the breakthrough moments of Bill Gates, Steve Jobs, and the other icons of today's new economy. The kind of technological revolution that they led in Silicon Valley is now sweeping through China, but with much more dramatic implications. The dynamic entrepreneurs who are using technology to radically transform business and cultural life in China are fighting not only outdated business models and a tumultuous economy but also an unpredictable government that has a love-hate relationship with the Net, at once pushing its expansion at a feverish pace and censoring it. As Duncan Clark, cofounder of BDA, an Internet consulting company in Beijing, told author David Sheff, "This environment -- the regulations, the competition, the political uncertainties -- makes these the fastest, most courageous, nimblest-thinking people globally. To deal with this level of risk and still sleep is no small accomplishment. But they're hooked on it like some Chinese are becoming hooked on Starbucks cappuccino." In this irresistible, groundbreaking book, Sheff takes us into the trenches of the Chinese technology revolution, introducing the major and minor players who are leading China into the twenty-first century. Players like Bo Feng, the charismatic former sushi chef who is now one of the leading venture capitalists in China. And Edward Tian, a national hero who has been described as China's Steve Jobs and Bill Gates combined, who left his own start-up on the eve of its IPO in order to lead the government's attempt to bring broadband to the entire nation, in the process leapfrogging the United States, Europe, and the rest of Asia with the longest and fastest network in the world. As the U.S. technological revolution wanes, business leaders will be looking to the billion-plus potential customers in China for new growth. In addition, the world's newest member of the World Trade Organization will no longer be a bystander in the global economy; it will be a fierce competitor. And when hundreds of million Chinese have access to unprecedented information and communication, China itself will be profoundly altered. Jay Chang, an analyst who covers China for Credit Suisse First Boston, sums the seismic nature of the changes: "What happens when China successfully transforms from a mainly agrarian/industrial nation into one that has significant input from the information technology industry? What happens when eighty percent of the state-owned enterprises in China are able to link economically to the global Internet on fast pipes? What happens when China's engineering talent pool is able to gain access to high-end computing resources and exchange ideas and information easily with their global peers? What happens when fifty percent of the Chinese population gets wired in ten years -- six hundred million people, the largest number of Internet users in the world?" With its compelling, character-driven story, researched over the course of three years, China Dawn will be the definitive book on the subject.
Author: C. Fred Bergsten
Publisher: PublicAffairs
ISBN: 1586485350
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
China's emergence as a major international power is perhaps the most important development in world affairs of the 21st century. Now, this book provides an indispensable survey of that country, the world's largest-- a vast land with 1.4 billion people and the world's most dynamic economy. Over the past year, Dr. Bates Gill, C. Fred Bergsten, Nicholas R. Lardy, and Derek Mitchell have led four task forces through a rigorous exercise of investigation and intelligence, compiling and analyzing the authoritative data on China's economy, foreign and domestic policy, and national security. Now that material has been shaped into an accessible narrative filled with facts, but written for the general reader. The expert judgements presented in China: The Balance Sheet will inform policymakers in Washintgon, scholars and the business community for years to come.
Author: Minky Worden
Publisher: Seven Stories Press
ISBN: 1609803884
Category : Social Science
Languages : en
Pages : 410
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Book Description
“It’s a time of change in the world, with dictators toppling and new opportunities rising, but any revolution that doesn’t create equality for women will be incomplete. The time has come to realize the full potential of half the world’s population.” —Christiane Amanpour, from the foreword The Unfinished Revolution tells the story of the global struggle to secure basic rights for women and girls, including in the Middle East where the Arab Spring raised high hopes, but the political revolutions are so far insufficient to guarantee progress. Around the world, women and girls are trafficked into forced labor and sex slavery, trapped in conflict zones where rape is a weapon of war, prevented from attending school, and kept from making deeply personal choices in their private lives, such as whom and when to marry. In many countries, women are second-class citizens by law. In others, religion and traditions block freedoms such as the right to work, study or access health care. Even in the United States, women who are victims of sexual violence often do not see their attackers brought to justice. More than 30 writers—Nobel Prize laureates, leading activists, top policymakers, and former victims—have contributed to this anthology. Drawing from their rich personal experiences, they tackle some of the toughest questions and offer bold new approaches to problems affecting hundreds of millions of women. This volume is indispensable reading, providing thoughtful analysis from a never-before assembled group of advocates. It shows that the fight for women’s equality is far from over. As Leymah Gbowee, 2011 Nobel Peace Prize Laureate says, “Women are not free anywhere in this world until all women in the world are free.”
Author: Yi Wen
Publisher: World Scientific
ISBN: 9814733741
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.
Author: Daniel Kurtz-Phelan
Publisher: W. W. Norton & Company
ISBN: 0393243087
Category : History
Languages : en
Pages : 279
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Book Description
An Economist Best Book of 2018 New York Times Book Review Editor’s Pick “Gripping [and] splendid.… An enormous contribution to our understanding of Marshall.”—Washington Post At the end of World War II, General George Marshall took on what he thought was a final mission—this time not to win a war, but to stop one. In China, conflict between Communists and Nationalists threatened to suck in the United States and escalate into revolution. Marshall’s charge was to cross the Pacific, broker a peace, and prevent a Communist takeover, all while staving off World War III. At first, the results seemed miraculous. But as they started to come apart, Marshall was faced with a wrenching choice—one that would alter the course of the Cold War, define the US-China relationship, and spark one of the darkest-ever turns in American political life. The China Mission offers a gripping, close-up view of the central figures of the time—from Marshall, Mao, and Chiang Kai-shek to Eisenhower, Truman, and MacArthur—as they stood face-to-face and struggled to make history, with consequences and lessons that echo today.
