By John Wong, Wei Liu
The chinese language economic system at the present time is at a serious crossroads. Sustained speedy development has given upward push to structural lines in addition to sectoral imbalances. It has additionally generated socio-economic difficulties resembling emerging source of revenue inequality, rural discontent and environmental degradation. All of those needs to be addressed earlier than China can input the following lap of excessive development. Containing 12 chapters, this quantity is a collaborative attempt of prime economists from Beijing, Singapore and in different places within the sector in reading China s financial development clients and their concomitant difficulties and constraints.
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Extra resources for China's Surging Economy: Adjusting for More Balanced Development (Series on Contemporary China)(Series on Contemporary China)
It may be stressed that the Chinese economic rise is a rare case of speed combining with scale, which tends to expand its disruptive effect on the world economy. Many years ago, China was mostly referred to as a rising regional economic power as its growth had significantly impacted only its neighboring economies, which traded with China or invested in China. By 2005, China’s economic growth had, beyond any doubt, produced far-reaching global implications. By its sheer size, China’s levels of production, consumption, imports, and exports carry worldwide ramifications.
East Asia’s “core growth area” is commonly defined to comprise Japan, China, the four Newly Industrialized Economies (NIEs) of South Korea, Taiwan, Hong Kong, and Singapore, and the four Association of Southeast Asian Nations (ASEAN) of Indonesia, Malaysia, the Philippines, and Thailand — the original ASEAN members. Situated on the western rim of the Pacific, many of these East Asian economies have displayed dynamic growth for a sustained period until 1997 when they were hit, in varying degrees, by the regional financial crisis.
2 It may be noted that China has continued to promote FDI, which is not for meeting capital requirements but primarily as a vehicle for technology transfer and the development of the export markets. 3 In recent years, the massive influx of foreign capital into China has indeed continued unabated despite the fact that China has already become a capital-surplus economy on account of its persistent “twin surpluses” on both capital and current accounts. 1 percent on July 21, 2005. Thus, on the one hand, China welcomes FDI in order to catalyze its industrialization and speed up its exports.