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Epilogue

In: Manias, Panics, and Crashes

Author

Listed:
  • Robert Z. Aliber

    (University of Chicago)

  • Charles P. Kindleberger

    (Massachusetts Institute of Technology)

Abstract

The economic achievements in China since the early 1980s have been brilliant, and probably unparalleled by those in any other country. Three hundred to four hundred million people — perhaps one third of the country’s population — moved from huts with dirt floors on farms and villages to apartments in the cities and near factories; they have a middle-class lifestyle ‘with clean water in and dirty water out’. The rate of economic growth averaged nearly 10 percent for nearly thirty years. China is the world’s second largest economy and even if its growth rate were to decline sharply, China will eventually surpass the United States as the world’s largest economy.

Suggested Citation

  • Robert Z. Aliber & Charles P. Kindleberger, 2015. "Epilogue," Palgrave Macmillan Books, in: Manias, Panics, and Crashes, edition 0, pages 369-378, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-52574-1_17
    DOI: 10.1007/978-1-137-52574-1_17
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