China’s Economic Policy in the Time of the Global Financial Crisis: Which Way Out?
This contribution analyses the impact of the global financial crisis on the Chinese economy and the policies implemented by the Chinese government to cope with it. We argue, first, that China has not been able to decouple its economic performance from that of the U.S. and other developed countries. Second, although economic growth in the second quarter of 2009 showed that the stimulus package is working, the current development does not seem to be sustainable. In order to avoid another round of overheating, the government needs to adjust its stimulus policy. Third, the current crisis offers opportunities to conduct necessary structural adjustments in favour of more market-based and innovative industries, more investment by private companies and a stronger role of private consumption in economic growth. Fourth, with the external demand from the OECD countries declining, Chinese export companies need to further diversify their international markets and reorient their production and sales strategies to some extent towards the domestic market.
Volume (Year): 38 (2009)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: Neuer Jungfernstieg 21, D-20354 Hamburg|
Phone: +49 (0)40 42825-593
Fax: +49 (0)40 42825-547
Web page: http://www.currentchineseaffairs.org
More information through EDIRC
|Order Information:|| Web: http://www.giga-hamburg.de/china-aktuell Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Günter Schucher, 2009. "China’s Employment Crisis – A Stimulus for Policy Change?," Journal of Current Chinese Affairs - China aktuell, Institute of Asian Studies, GIGA German Institute of Global and Area Studies, Hamburg, vol. 38(2), pages 121-144.
When requesting a correction, please mention this item's handle: RePEc:gig:chaktu:v:38:y:2009:i:3:p:165-181. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karsten Giese)or (Heike Holbig)
If references are entirely missing, you can add them using this form.