China's rapid and sustained growth over last thirty years has propelled it to become the world's second largest economy today and potentially the largest in the foreseeable future. As one of the first major economies pulling out of recession and the last remaining major socialist country in the world today, China presents a challenge to established thinking on the essential primacy of global capitalism and the settled nature of the world system - as China becomes more integrated into the world economy and the international system, both are themselves potentially transformed as a result of China’s involvement. This book explores a wide range of issues connected with the impact of China on the global economy and the prevailing international system. Subjects covered include China’s multinationals, international acquisitions, the exchange rate, research and development and technology transfer, China’s emerging major business groupings, and small and medium sized enterprises.
Table of Contents
List of Abbreviations List of Contributors List of Tables List of Figures Acknowledgments Preface 1. Rising China and its Integration with the Changing World Economy - Wei Xia and Liming Wang 2. Rising China: Its Strength and Problems - Gregory C Chow 3. Evolution after Revolution: the Chinese ‘Claiming State’ between History and Textbook Economics - Giuseppe Gabusi 4. Continental Drift: China and the Global Economic Crisis - Sangaralingam Ramesh 5. Chinese MNCs in Latin America - Gaston Fornes and Alan Butt-Philip 6. An Exploration of Pyramidal Business Groups in China - Dylan Sutherland, Lutao Ning and Jing Wang 7. Sustaining the Growth of China’s SMEs through ICT: Recent Experience of Policy Initiatives and Their Implementation - David H. Brown and Qi Wang 8. Fiscal Reform, Ownership Restructuring, and Corporate Objective in Chinese State-owned Enterprises - Da Teng 9. Culture Distance and Cross-border Merger and Acquisition of China: Empirical Evidence from Electricity Industry - Lei Wang 10. R&D, Direct Technology Transfer and Productivity Growth: Evidence from Chinese Manufacturing Industries - Yanbing Wu 11. The Distribution of Income and Well-Being in Rural China: A Survey of Panel Data Sets, Studies and New Directions - Xi Chen 12. Determinants of China's Inter-Regional Equalization of Basic Public Services - Xuebing Tang 13. Does Real Effective Exchange Rate Volatility Affect Foreign Direct Investment? Evidence from China - Min Ye and Siyue Liu 14. Cost Efficiency of Banks in China: A Stochastic Frontier Analysis - Yizhe Dong 15. The Effect of Historical Events on the Speed of Price Evolution Indexed by an Operational Time for China’s Futures Market - Ren Zhang, Youwei Li and Donal McKillop 16. Poverty in Shenzhen - Stefan Gravemeyer, Thomas Gries, and Jinjun Xue Index
Liming Wang is Director of the Irish Institute for Chinese Studies in University College Dublin; Director of the Confucius Institute for Ireland; the Secretary General of the Chinese Economic Association (Europe); and a Board Director of the Institute of International Trade of Ireland. He is co-author of Doing Business in China: The Irish experience and China's Grain Economy: The challenge of feeding more than a billion.
"The experience of combining Rising China in the Changing World Economy with recent research developments explaining both macro- and micro-level facts, gives us an opportunity to check which economic and political assumptions are essential to answer questions on the rapid growth of China. In doing so, we can keep on working towards an understanding of what drives China's great transformation and its hidden aspects as well as the relationships among them, and the reforms needed to address the micro-level problems that have resulted." - Tomohiro Machikita, Asia Research Centre, Copenhagen Business School, Denmark; The Copenhagen Journal of Asian Studies 30(2), 2012.