China: Coming to Grips with the New Global Player
Abstract
This paper analyses China's economic performance in the last 25 years and discusses its prospect for growth in the future. Exports and investment have been the two driving forces for the high annual GDP growth rates. FDI plays an important role. However, structural issues such as the loss-making state-owned firms and the fragile banking industry have to be solved. Monetary policy is complicated by the accumulation of reserves which, however, provide an insurance for the fragile banking system. Property rights, a crucial element in transforming a communist society, are far from being clearly developed. Major policy issues in the future include the correction of the distorted growth process and of the institutional deficits, especially with respect to the rule of law and the lack of democracy. Copyright 2007 The Author Journal compilation 2007 Blackwell Publishing Ltd .Download Info
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Bibliographic Info
Article provided by Wiley Blackwell in its journal World Economy.
Volume (Year): 30 (2007)
Issue (Month): 6 (06)
Pages: 893-922
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0378-5920
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Horst Siebert, 2007. "China – opportunities of and constraints on the new global player," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 8(4), pages 52-61, 01.
- Horst Siebert, 2008. "China-Opportunities of and Constraints on the New Global Player," Working Papers 2008/13, Turkish Economic Association.
- Maria Herrerias, 2010. "The causal relationship between equipment investment and infrastructures on economic growth in China," Frontiers of Economics in China, Springer, vol. 5(4), pages 509-526, December.
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