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The Rise of China

In: The Economic Rise of East Asia

Author

Listed:
  • Linda Glawe

    (University of Hagen)

  • Helmut Wagner

    (University of Hagen)

Abstract

China presents probably the most astonishing growth miracle in modern world history. This chapter shows how China has developed, starting from the Middle Ages to the present with a special focus on the “Reform and Open-door Policy” under Deng Xiaoping from 1978 onwards. Before outlining individual reforms, this chapter analyzes the special characteristics of the Chinese reform strategy which can be best described as gradualist and experimental. It then discusses the agricultural reforms, the emergence of Township and Village Enterprises, the role of special economic zones and FDI, the fiscal, financial and state-owned enterprise reforms that intensified in the 1990s, and the 2001 WTO accession. It also explains why the reform slowed down after 2003 and in how far the growth strategy has turned toward “rebalancing” under Xi Jinping.

Suggested Citation

  • Linda Glawe & Helmut Wagner, 2021. "The Rise of China," Contributions to Economics, in: The Economic Rise of East Asia, chapter 0, pages 143-241, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-87128-4_4
    DOI: 10.1007/978-3-030-87128-4_4
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