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China in Asia

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  • Morck, Randall
  • Yeung, Bernard

Abstract

China's surge to become the world's second largest economy and largest trading nation contributes greatly to Asia becoming the world's largest economic system. China is the nexus of intra-Asian trade and direct investment flows. China's rapid growth in the recent decade relied on a state-directed investment model, akin to the state-run Big Push growth model. As in most big push experiences, intermediate term success leads to economic stresses. China's leaders can no longer ignore obvious signs of rising malinvestment, corporate debts, environmental degradation, and social disparity, all amid an aging population and tightening resource constraints. China's economic slowdown also forces economic adjustment upon its neighbors, rendered more difficult by China's policy ambiguity and volatility. Sill, China can be a positive long term influence in Asia, especially as it carries its market reforms to completion.

Suggested Citation

  • Morck, Randall & Yeung, Bernard, 2016. "China in Asia," China Economic Review, Elsevier, vol. 40(C), pages 297-308.
  • Handle: RePEc:eee:chieco:v:40:y:2016:i:c:p:297-308
    DOI: 10.1016/j.chieco.2016.07.009
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    Cited by:

    1. Randall Morck & Bernard Yeung, 2017. "East Asian Financial and Economic Development," Working Papers id:12112, eSocialSciences.
    2. Feng, Chao & Wang, Miao & Liu, Guan-Chun & Huang, Jian-Bai, 2017. "Sources of economic growth in China from 2000–2013 and its further sustainable growth path: A three-hierarchy meta-frontier data envelopment analysis," Economic Modelling, Elsevier, vol. 64(C), pages 334-348.

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