Globalization Competition And Growth In China

Presenting original work and new thinking, this book explores the current state of globalization, competition and growth in China.

In the 26 years since market-oriented reforms were introduced, China has emerged onto the world stage as a major economic presence, particularly since her accession to the World Trade Organisation in 2001.This book is a collection of papers on the effects of globalisation on China's growth prospects and of China's growth on the wider economy. The issues explored include the sustainability of China's continuing economic reform and the necessary reforms to sustain that growth; the considerable effects of her integration into the global economy and its implications for the conduct of Chinese economic policies, including the exchange rate regime; and the influence of China on the regional and world economy. China's competitiveness in exports has also begun to challenge the market share of developing and developed economies; this role in promoting intra-regional trade is also explored.

The book examines the expansion of investment and trade between China and New Zealand, and its changing composition within the political framework, especially the 2008 Free Trade Agreement. Particular attention is paid to China’s volatile agrifood market, where New Zealand dairy products play an important role for both countries. The New Zealand-China economic relationship – asymmetrical and complementary, but with increasing competition from domestic production – is a case study of the complexities of globalization and the interplay of economic imperatives, political pressures and cultural factors. China is now New Zealand’s main economic partner and a major source of migrants, tourists and students. This proposed study on how New Zealand and China manage their grave dissimilarities and disparities in growing, ever close economic ties will be of interest to academics, policy analysts, economic/trade decision makers, and business practitioners.

An excellent guide for understanding the trends, challenges and opportunities facing China through globalization, this Handbook answers the pertinent questions regarding the globalization process and China’s influence on the world.

China has achieved remarkable, sustained economic growth under the policies of ‘reform and opening up’ put into place since the late 1970s. China’s industrial policies have nurtured a large group of firms with high profits and a high market capitalisation. However, few people in the West can name a single Chinese firm. During the modern era of capitalist globalisation firms from the high income countries have spread their business systems across the world. This has presented a profound challenge for industrial policy in developing countries, including even China, the world’s second largest economy. China is unique among large latecomer developing countries in having reached the position of being a huge, fast-growing economy, with a tremendous impact on the rest of the world, but lacking a substantial group of globally competitive firms. This volume explores this paradox. Fully understanding the industrial policy challenge that the era of capitalist globalisation has produced for China is essential for harmonious international relations.

This volume is divided into: World and China Economy, Chinese Diplomacy, International Strategies. In an era when world order is undergoing reformations, it provides scholars in the English-speaking world with a window to understand the perspectives of the Chinese academia.

China emerged as the largest recipient of foreign direct investment (FDI) and the fifth largest trading nation in the world in 2002. China’s entry into the World Trade Organization (WTO) represents a huge stride forward in its reform efforts. These reforms include liberalization and modernization of China’s economy (in industrial, services, and agricultural sectors) and trading activities. China’s growing economy, its international trade, and its large inward FDI have significantly affected the growth of global trade, the distribution of global direct investments, and the pace of expansion of global output. There is no other country in history, as a WTO member, to have achieved such expansion in a comparable time period. China is expected to be influential in future rounds of WTO trade negotiations. As the only major trading nation that is not classified as an advanced industrial economy, China is bringing an unparalleled perspective to the negotiations and exerting its power on matters important to its trade. China, as a new WTO member, is posing momentous opportunities and challenges to the United States and other countries. A study of the Chinese economy after entering the WTO should be of importance to practitioners, scholars, and policymakers because of China’s vast size, its rapid growth in foreign trade and FDI inflows, and the unprecedented speed of its integration into the world economy. The high quality of the chapters within this volume and their authors’ expertise unite to make this book a most timely contribution to our understanding of China’s rapidly changing economy and its transformation toward globalization after entering the WTO. This volume is divided into four parts. The first part deals with economic performance after China’s accession to the World Trade Organization. The second part relates to the WTO and China’s economic welfare. The third part deals with China’s financial reforms and capital markets, and the last part discusses China’s industrial and agricultural development. In total, we have eighteen chapters that will shed light on the Chinese economy and the challenges posed by WTO membership.

How have Chinese views on globalization developed over time? How is China managing the new normal of slower growth? Is China creating an alternative modernity? Is China a status quo power or a reform power? Can China manage its growing international role in international institutions and in the New Development Bank, the Asian Infrastructure Investment Bank, along with infrastructure projects in the region such as One Belt One Road and the Maritime Silk Road? Can China achieve balanced interactions with ASEAN and with developing countries in the region and worldwide? How is governance in China evolving in relation to social movements, protests, labour struggles and migrant workers? Do Chinese policies in relation to religious diversity contribute to social harmony or to friction? This timely volume by Chinese and international scholars offers diverse perspectives on these questions. This book was originally published as a special issue of Third World Quarterly.