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The Promise of China

In: Market Entry in China

Author

Listed:
  • Christiane Prange

    (Tongji University)

Abstract

Since opening up to foreign trade in 1979, China has become the land of promise for many Western companies. China has emerged as a major global player and today is the largest economy in the world. However, the economic crisis in 2008 has also affected China, with exports and foreign direct investment declining and growth slowing down. Real GDP fell from 10.4 % in 2010 to 7.8 % in 2012, to 7.4 % in 2014. Future growth will largely depend on the government’s activities to boost consumer demand, accelerate the transition to a free market economy, and engage in innovation rather than remaining the ‘low cost factory of the world’. This chapter gives a short overview on the historical milestones of China’s developments, its reform strategies, and its future ambitions.

Suggested Citation

  • Christiane Prange, 2016. "The Promise of China," Management for Professionals, in: Christiane Prange (ed.), Market Entry in China, pages 3-8, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-29139-0_1
    DOI: 10.1007/978-3-319-29139-0_1
    as

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