China S Integration With The Global Economy

This comprehensive collection provides a remarkable wealth of information and a timely assessment of China's economic development and integration with the global economy after WTO accession. Chunlai Chen brings together a distinguished group of scholars who employ economic theories, econometric modelling techniques and the latest statistics to analyze many important issues. These hotly debated topics include China's economic growth, international trade, regional trade arrangements, foreign direct investment, banking sector liberalization, exchange rate reform, agricultural trade and energy demand. Aimed at an international audience, this highly focused book will be of great benefit to academics and postgraduate students involved in Chinese economy and business studies, as well as researchers in international trade and foreign investment.--Publisher.

This book discusses China's integration into the world economy, drawing on papers previously written by the editor. It focuses on strong trade growth, FDI inflows, innovation policy (including transfer of technology and intellectual property), the role of saving, and the accumulation of human capital. It also analyzes the quantitative significance of openness in driving China's growth. While other books on China do not focus much on China's integration into the world economy, this book provides technically strong analyses of key contributing factors to China's growth performance. It also highlights innovation and education policy and their significance for the 11th five-year plan which aims to quadruple real income per capita between 2000 and 2020.

China's economic reforms over the past two decades have brought tremendous economic transformation, rapid growth, and closer integration into the global economy. Real income per capita has increased fivefold, raising millions of Chinese out of poverty. Despite these achievements, difficult reforms--involving the state-owned enterprises and the financial sector--must still be completed, and social pressures from rising unemployment and income inequalities need to be addressed. China's accession to the World Trade Organization will bring benefits but will also impose obligations on the economy, and could prove to be a watershed for the reform process. This book looks at the country's reform process, its past successes and future challenges.

Food, consumption, demand, agricultural research, fertilizer, land, water resources, infrastructure, domestic grain, international grain market, economy, business, markets, tariffs, environment, health, productivity, pollution, energy, industry, water, urban transportation, pension reform, elderly, education, employment, rural, urban, income, poverty.

China's accession to the World Trade Organization (WTO) has been hailed as the biggest coming-out party in the history of capitalism. Its membership eventually will contribute to higher standards of living for its citizens and increased growth for its economy. But why would the Chinese communist regime voluntarily agree to comply with the many complex rules of the global trading system since it has already become the world's seventh largest trading country while avoiding these constraints by remaining outside the system? The answer to this question forms the basis for this new book. Nicholas Lardy explores the many pressures on the Chinese government, both external and internal, to comply with the standards of the rule-based international trading system. Lardy points out that, prior to entry into the WTO, China enjoyed high growth rates and more foreign direct investment than any other emerging economy. He draws on a wealth of scholarship and experience to explain how China's leadership expects to leverage the increased foreign competition inherent in its WTO commitments to accelerate its domestic economic reform program, leading to the shrinkage and transformation of inefficient, money-losing companies and hastening the development of a commercial credit culture in its banks. Lardy answers a number of other questions about China's new WTO membership, including its effects on bilateral trade with the United States; the possibility that China will use its power to reshape the WTO in the future; the degree to which the terms of China's entry were more or less demanding than those for other new members; the ability of China's economy to successfully open to new imports; and the prospects for new growth in various sectors of China's economy made possible by WTO accession. This book will become an important tool for those who wish to understand China's new role in the global trading system, to take advantage of the new opportunities for investment in China

Although the rest of the world had waited a long time for China to open up, feelings were mixed when it actually did and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization (WTO), many of its trading partners are increasingly concerned that China’s competition in the world goods and capital markets may adversely affect their own growth prospects. This paper examines the implications of China’s WTO accession for other developing countries in the context of the country’s long-term process of growth and opening up. The paper argues that China’s integration into the world economy will inevitably impose adjustment costs on its trading partners in the short-to-medium term, but the benefits it generates are likely to dominate in the long run.

Essay from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: A+, University of South Australia, course: INTERNATIONAL BUSINESS MANAGEMENT, language: English, abstract: This essay examines the future role of China and India within Global Economy based and GDP and GDP per person and the reasons and reforms that have led to their presently strong position. By 2050, it is projected that the two largest economies in the world will be China and India. The growth and decline of the Indian and Chinese economies have had massive influence on the economy of the world. The influence of the two economies can have positive connotations for instance in the last three decades, but the impact can also be negative as was witnessed in the previous centuries. China and India can take over the role of being the main engines of global economic growth.

Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.