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International Implications of China’s Transition into an Open Market Economy

In: The New Chinese Economy

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  • Elias C. Grivoyannis

Abstract

Global business interaction makes countries important to each other because of anticipated benefits. Some countries, though, might become more important than others as a result of their business interaction with the global community. Paraphrasing what was attributed to Japan at the beginning of the twentieth century (Whelpley, 1913, pp. 247–248), “There was a time when all the countries around the world hoped to find their chief field of commercial enterprise in the ‘west’; but today, at the beginning of the twenty-first century, the mind of all the countries around the world is all toward China as the commercial hope of their future.” This was not so before 1979 when the Chinese economy was still dominated by central planning.

Suggested Citation

  • Elias C. Grivoyannis, 2012. "International Implications of China’s Transition into an Open Market Economy," Palgrave Macmillan Books, in: Elias C. Grivoyannis (ed.), The New Chinese Economy, chapter 9, pages 173-183, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-01204-3_9
    DOI: 10.1057/9781137012043_9
    as

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