China’s role in global affairs today continues to rise. This book provides an authoritative, comprehensive and detailed overview of contemporary economic developments in China. Key topics include agriculture; the market gradually replacing central planning; the global financial crisis; the reform of state-owned industrial enterprises; the non-state sectors; the ‘open-door’ policy (including the WTO, exchange rate policy, and inward and outward direct foreign investment); and China’s economic performance in general.
The book continues - and adds to – the overview of developments up to May 2006 which were covered in the author’s China: A Guide to Economic and Political Developments (2006), and is the companion volume to Political Developments in Contemporary China: A Guide (2010) - both published by Routledge.
Praise for Ian Jeffries' China: A Guide to Economic and Political Developments (2006):
"This book is highly useful not only to casual China watchers […] but also to researchers and academics […] an engrossing guide." – Marc Lanteigne, International Affairs
Overview Agriculture: policy since 1945; general facts and figures; the Household Responsibility System (features, reforms, successes and failures); the hukou system; the World Trade Organization (WTO) The market gradually replacing central planning: prices; monetary policy and the banking system; a chronology of financial developments The reform of state industrial enterprises: the discarding of social functions (unemployment compensation and pensions, health and housing); early reforms; shareholding and privatization (including developments on the two stock exchanges); conglomerates; a chronology of developments in ownership policy and state enterprise reform; bankruptcy law; the new labour law; financing investment (the debate); trade union branches in enterprises; the role of the party in enterprises; the non-state, non-agricultural sectors: the private sector, foreign-invested enterprises and township-village enterprises (TVEs); the importance of these sectors as a proportion of industrial output; the private sector as a whole as a percentage of GDP; the private, non-agricultural sector as a percentage of GDP; the underground economy; TVEs The ‘open-door’ policy: foreign trade; growing importance and general aspects; the WTO; yuan convertibility and exchange rate policy; the Asian financial crisis; direct foreign investment (DFI): definition; volume and other indicators of importance; investment overseas by Chinese companies (outward/outbound direct foreign investment); China and Taiwan; the gradual opening up of sectors; developments in conditions affecting direct foreign investment; Special Economic Zones (SEZs) Economic performance: global significance; GDP (including the upward revision of 2004 GDP and a section devoted to purchasing-power parity (PPP) estimates of GDP) and GDP growth; manufacturing output; sources of growth; raw materials; poverty; inflation; unemployment; pollution; energy sources; the number of labour disputes; aid; education