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Author: Luyao Che
Publisher: Springer
ISBN: 9811358389
Category : Law
Languages : en
Pages : 224
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Book Description
This book explores the legal implications of China’s state-directed economic model for the existing international economic order. It first reveals the close links between the market and the state in contemporary China by profiling an emerging triple role of the state in the economy. It then explores how the domestic legal system underpins the distinctive market-state relationship, before analysing whether essential norms of international economic law, which bracket the international economic order, are able to adapt to China’s innovative market-state relationship. The book argues that the international economic order is inherently limited since it tends to adhere to an orthodox dichotomy, with a clear boundary between the market and the state. It also suggests that China’s new state-market relationship has challenged the dichotomy – the state does not intend to eliminate the functioning of the market but, conversely, utilises a market mechanism and makes itself more integrated into the market. Lastly the book proposes a fresh perspective to comprehend the ‘market-state’ question, which does not to take for granted that all market-state relationships are mutually exclusive.
Author: Luyao Che
Publisher: Springer
ISBN: 9811358389
Category : Law
Languages : en
Pages : 224
Get Book Here
Book Description
This book explores the legal implications of China’s state-directed economic model for the existing international economic order. It first reveals the close links between the market and the state in contemporary China by profiling an emerging triple role of the state in the economy. It then explores how the domestic legal system underpins the distinctive market-state relationship, before analysing whether essential norms of international economic law, which bracket the international economic order, are able to adapt to China’s innovative market-state relationship. The book argues that the international economic order is inherently limited since it tends to adhere to an orthodox dichotomy, with a clear boundary between the market and the state. It also suggests that China’s new state-market relationship has challenged the dichotomy – the state does not intend to eliminate the functioning of the market but, conversely, utilises a market mechanism and makes itself more integrated into the market. Lastly the book proposes a fresh perspective to comprehend the ‘market-state’ question, which does not to take for granted that all market-state relationships are mutually exclusive.
Author: Luyao Che
Publisher:
ISBN: 9789811358395
Category : BUSINESS & ECONOMICS
Languages : en
Pages :
Get Book Here
Book Description
This book explores the legal implications of China's state-directed economic model for the existing international economic order. It first reveals the close links between the market and the state in contemporary China by profiling an emerging triple role of the state in the economy. It then explores how the domestic legal system underpins the distinctive market-state relationship, before analysing whether essential norms of international economic law, which bracket the international economic order, are able to adapt to China's innovative market-state relationship. The book argues that the international economic order is inherently limited since it tends to adhere to an orthodox dichotomy, with a clear boundary between the market and the state. It also suggests that China's new state-market relationship has challenged the dichotomy - the state does not intend to eliminate the functioning of the market but, conversely, utilises a market mechanism and makes itself more integrated into the market. Lastly the book proposes a fresh perspective to comprehend the 'market-state' question, which does not to take for granted that all market-state relationships are mutually exclusive. --
Author: Isabella M. Weber
Publisher: Routledge
ISBN: 042995395X
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
Author: Doug Guthrie
Publisher: Taylor & Francis
ISBN: 0415949912
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
China and Globalizationis a compact, highly readable introductory text on contemporary China and the massive changes it is presently undergoing. It focuses primarily on how economic structural change is driving the processes, but discusses many other issues as well--politics, social change, reform, international economics, and cultural change. In its quarter-century long shift from communism to capitalism, China has transformed from a desperately poor nation into a country possessing one of the fastest-growing and largest economies in the world. Doug Guthrie covers the social, economic, and political factors responsible for the revolutionary changes, and interweaves this broader structural analysis with a consideration of social changes at the micro and macro levels. The book also considers the potential for further change. Will China become more democratic? Will the government become more serious about protecting human rights and creating a transparent legal system? How will China's explosive growthimpact both East Asia and the larger global economy? In sum, this will be a sophisticated, definitive yet compact overview of the effects of massive social, economic, and political reforms on the most populous nation in the world. Books in this series look at how nations and regions across the world are navigating the tumultuous currents of globalization. Concise, descriptive, interdisciplinary, and theoretically informed, they serve as ideal introductions to the peoples and places of our increasingly globalized world.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: R. Coase
Publisher: Springer
ISBN: 1137019379
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
Author: Xiaohuan Lan
Publisher: Springer Nature
ISBN: 9819700809
Category :
Languages : en
Pages : 358
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Book Description
Author: Yongnian Zheng
Publisher: Cambridge University Press
ISBN: 1108609945
Category : Political Science
Languages : en
Pages : 493
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Book Description
Focusing on the evolving relations between the state and market in the post-Mao reform era, Yongnian Zheng and Yanjie Huang present a theory of Chinese capitalism by identifying and analyzing three layers of the market system in the contemporary Chinese economy. These are, namely, a free market economy at the bottom, state capitalism at the top, and a middle ground in between. By examining Chinese economic practices against the dominant schools of Western political economy and classical Chinese economic thoughts, the authors set out the analytical framework of 'market in state' to conceptualize the market not as an autonomous self-regulating order but part and parcel of a state-centered order. Zheng and Huang show how state (political) principles are dominant over market (economic) principles in China's economy. As the Chinese economy continues to grow and globalize, its internal balance will likely have a large impact upon economies across the world.
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: William J. Norris
Publisher: Cornell University Press
ISBN: 1501704028
Category : Political Science
Languages : en
Pages : 318
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Book Description
In Chinese Economic Statecraft, William J. Norris introduces an innovative theory that pinpoints how states employ economic tools of national power to pursue their strategic objectives. Norris shows what Chinese economic statecraft is, how it works, and why it is more or less effective. Norris provides an accessible tool kit to help us better understand important economic developments in the People’s Republic of China. He links domestic Chinese political economy with the international ramifications of China’s economic power as a tool for realizing China’s strategic foreign policy interests. He presents a novel approach to studying economic statecraft that calls attention to the central challenge of how the state is (or is not) able to control and direct the behavior of economic actors. Norris identifies key causes of Chinese state control through tightly structured, substate and crossnational comparisons of business-government relations. These cases range across three important arenas of China’s grand strategy that prominently feature a strategic role for economics: China’s efforts to secure access to vital raw materials located abroad, Mainland relations toward Taiwan, and China’s sovereign wealth funds. Norris spent more than two years conducting field research in China and Taiwan during which he interviewed current and former government officials, academics, bankers, journalists, advisors, lawyers, and businesspeople. The ideas in this book are applicable beyond China and help us to understand how states exercise international economic power in the twenty-first century.
