Understanding And Interpreting Chinese Economic Reform

Leading Chinese economist Jinglian Wu provides an insightful and comprehensive examination of China's strategy and implementation of its economic reform.

In the early 1990's, the world began to recognize China as a rising economic power to reckon with. China's economy is dynamic ? her human and natural resources are plentiful and her economic growth has been well sustained over the last 16 years. In fact, some have predicted that by the year 2020, China's economic output will be close to half that of the US. It is undeniable that China will be an economic giant, if she is not already one today.In this book, the author has traced China's economic development over the last 16 years. The steps and characteristics of China's economic reform are detailed. The prospects for China's economic growth are studied. The author also attempts to analyze topical issues pertaining to China's economic relations with the US and her integration with the other Asian economies. This book provides the interested reader with a bird's eye view of the Chinese economy over the last 16 years. Most chapters are written for the general reader, while a few are for professional economists. For the questions it answers or for those that it raises, this is an important book to read.

In "Interpreting China's Development", leading experts on China provide a broad-ranging overview of this growing superpower, highlighting key issues as they developed in the People's Republic of China. Underpinned by scholarly research yet written in a readable and concise style, this volume of review articles offers a very accessible way to understanding the major events and key issues that has emerged in China over the last ten years. Organized into four thematic sections - challenges of governance, growth and structural changes, coping with rising social problems, and relations with major powers and neighbors - the essays cover salient topics such as the struggle against corruption, banking reforms, widening inequality, environmental crisis, and the China-US relation.

This book is unique in covering all important topics of the Chinese economy in depth but written in a language understandable to the layman and yet challenging to the expert. Beginning with entrepreneurship that propels the dynamic economic changes in China today, the book is organized into four broad parts to discuss China's economic development, to analyze significant economic issues, to recommend economic policies and to comment on the timely economic issues in the American economy for comparison.Unlike a textbook, the discussion is original and thought-provoking. It is written by a most distinguished economist who has studied the Chinese economy for thirty years, after making breathtaking contributions to the fields of econometrics, applied economics and dynamic economics and serving as a major adviser to the government of Taiwan during its period of rapid development in the 1960s and 1970s. In the last thirty years, the author has served as a major adviser to the government of China on economic reform and important economic policies and cooperated with the Ministry of Education to introduce and promote the development of modern economics in China, including training hundreds of economists in China and placing many graduate students to pursue a doctoral degrees in economics in leading universities in the US and Canada. These graduates now plays pivotal roles in China and in the US in academics, business or government institutions. The essays, a culmination of the author's expertise in China over five decades, are being widely read in China. When the author became professor emeritus at Princeton, the University named the Econometric Research Program as the Gregory C Chow Econometric Research Program in his honor.

Provides an insider's examination of China's economic reform and its political implications. The book sheds new light on the Chinese approach to reform, including its dual-goal, dynamic gradualism and reform leadership. It assesses the vast social and political changes set forth by the reform and the international ramifications of China's rise.

Since the reform and opening up in 1978, the Chinese economy has grown rapidly. China has become the focus of the world due to its astonishing achievements in every aspect of its economical growth. The country's transformation process has witnessed unprecedented social and economic phenomena and the existing economic theories have not been able to explain this rapid growth. Therefore, there is a need to establish new theories. This book fills the gap by bringing forth new ideas and economic theories.The author, who is one of China's most prestigious economists, has a profound understanding of the country's social, economic and political structures. The book is a collection of his most representative works in the recent years. The chapters not only investigate problems and challenges faced by the Chinese economy, but also shed new light on the solutions and opportunities. Contents:Prospect for the Chinese Economy in the 21st Century — Speech for the 2001 BiMBA Top Management Class of Beijing UniversityEconomic Development and Chinese CultureThe Revival of China and the Future of Chinese EntrepreneursCurb Overheating to Prevent SupercoolingWindow Guidance and Macro Control — Contemplating the Current Macroeconomic Policies of ChinaWill the Reform of Exchange Rate Regime of RMB be Successful?Commercial Environment Construction and Macroeconomic DevelopmentCompetitive Advantage, Comparative Advantage, and Economic Development StrategiesChinese State-Owned Enterprises and the Reform of Financial InstitutionsThe Development Pattern of the Chinese Financial Market in the New Century — Forward: China's Tasks in the New CenturyOn the Optimal Financial Structure in Economic DevelopmentLack of Existing Paradigm for Interpreting the Chinese Economy Readership: Researchers, professionals, undergraduate and graduate students interested in unique situations and rapid development of the Chinese Economy, including economic theories, current challenges and future developments. Keywords:Economic Development;Chinese Culture;Revival;Overheating and Supercooling;Macro-Economic Development;Exchange Rate RegimeKey Features:The author is the former Chief Economist and Senior Vice President of Development Economics at the World BankThe author, who is one of China's leading economists, has a profound understanding of China's social, economic and political structuresThis book not only investigates problems and challenges faced by the Chinese economy, but also sheds new light on the solutions and opportunities

'Friends of China can help her best by maintaining broad but not uncritical support and striving for a deeper understanding of this ancient culture and the political and economic structure of the nation. Professor Gao's book is a major contribution to this process.' - Sir Edward Heath What are the reasons behind China's new move to reform? What has been experienced and what lessons can now be drawn? Is China facing new problems in its reform road? What of its future? Professor Gao, one of China's leading reformers, examines and authoritatively assesses China's reform over the last fourteen years. Incorporating a broad range of theoretical, applied and policy materials, this book features many current topics and up-to-date tables, graphs and statistics.