China : Competing in the Global Economy
Published Date:February 2003
Author(s):Markus Rodlauer, Wanda Tseng
DOI:10.5089/9781589061781.071
ISBN:9781589061781
Pages:229




China's economic reforms over the past two decades have brought tremendous economic transformation, rapid growth, and closer integration into the global economy. Real income per capita has increased fivefold, raising millions of Chinese out of poverty. Despite these achievements, difficult reforms--involving the state-owned enterprises and the financial sector--must still be completed, and social pressures from rising unemployment and income inequalities need to be addressed. China's accession to the World Trade Organization will bring benefits but will also impose obligations on the economy, and could prove to be a watershed for the reform process. This book looks at the country's reform process, its past successes and future challenges.

Contents:

• Front Matter
  

• 1 Introduction and Overview
• 2 How Fast Can China Grow?
• 3 Provincial Growth Dynamics
• 4 The Growth-Financial Development Nexus
• 5 Foreign Direct Investment in China: Some Lessons for Other Countries
• 6 Foreign Direct Investment and Output Growth
• 7 China and the Asian Crisis
• 8 Medium-Term Fiscal Issues
• 9 State Enterprise Reforms
• 10 Financial System Soundness and Reform
• 11 The Finances of China’s Enterprise Sector
• 12 The Impact of WTO Accession
• 13 Exchange Rate Policy