This book is about mutual influences of thinking about economic development in China and in the West, from the 18th century until the present. Its chapters are contributed by development economists and historians of thought from China and other parts of the world. The book describes important stages in the evolution, cross-fertilization and contextual modification of ideas about economic order, development and institutional change. It illustrates how Western concepts and theories have been adopted and adapted to Chinese conditions in different waves of modernization from the late 19th century until the present and that this was and is no one-way traffic. The book examines to what extent pre-classical thinking in the West, in particular French Physiocracy in mid-18th century, was influenced by China as an ideal and a source of ideas, at a time when China was the largest and most advanced economy in the world. It discusses to what extent different approaches of modern Western-style economics, in particular in the fields of development economics and institutional economics, can be used to understand the rapid transitions and developments of the Chinese economy in recent decades, and to what extent they need to be modified in the light of new experiences and insights. Against this background, several contributions to the volume provide assessments of the current state of economic science and teaching in China, in particular with regard to Chinese views on Western economics. The book should be of interest to those who are interested in the economic history of China.

This book is about mutual influences of thinking about economic development in China and in the West, from the 18th century until the present. Its chapters are contributed by development economists and historians of thought from China and other parts of the world. The book describes important stages in the evolution, cross-fertilization and contextual modification of ideas about economic order, development and institutional change. It illustrates how Western concepts and theories have been adopted and adapted to Chinese conditions in different waves of modernization from the late 19th century until the present and that this was and is no one-way traffic. The book describes how pre-classical thinking in the West, in particular French Physiocracy in mid-18th century, was influenced by China as an ideal and a source of ideas, at a time when China was the largest and most advanced economy in the world. It discusses to what extent concepts of Western-style economics, in particular in the fields of development economics and institutional economics, can be used to understand the rapid transitions and developments of the Chinese economy in recent decades, and to what extent they might need to be modified in the light of new experiences and insights. Against this background, several contributions to the volume provide assessments of the current state of economic science and teaching in China, in particular with regard to Chinese views on Western economics. The book should be of interest to those who are interested in economic development and the history of economics in China.

This book outlines and analyzes the economic development of China between 1949 and 2007. Rather than being narrowly economic, the book addresses many of the broader aspects of development, including literacy, morality, demographics and the environment. The distinctive features of this book are its sweep and that it does not shy away from controversial issues. For example, there is no question that aspects of Maoism were disastrous but Bramall argues that there was another side to the whole programme. More recently, the current system of government has presided over three decades of very rapid economic growth. However, the author shows that this growth has come at a price. Bramall makes it clear that unless radical change takes place, Chinese growth will not be sustainable. This large, comprehensive text is relevant to all those studying the economic history of China as well as its contemporary economy. It is also useful more generally for students and researchers in the fields of international and development economics.

China was the largest and one of the most advanced economies in the world before the eighteenth century, yet declined precipitately thereafter and degenerated into one of the world's poorest economies by the late nineteenth century. Despite generations' efforts for national rejuvenation, China did not reverse its fate until it introduced market-oriented reforms in 1979. Since then it has been the most dynamic economy in the world and is likely to regain its position as the world's largest economy before 2030. Based on economic analysis and personal reflection on policy debates, Justin Yifu Lin provides insightful answers to why China was so advanced in pre-modern times, what caused it to become so poor for almost two centuries, how it grew into a market economy, where its potential is for continuing dynamic growth and what further reforms are needed to complete the transition to a well-functioning, advanced market economy.

This book examines the economic, cultural and structural factors affecting China's economic growth, and expounds why China's economy has been so successful in the past, and the challenges that lie ahead for the country amidst the changing world, new challenges and uncertainties. The authors lay out their thoughts persuasively and powerfully, advocating changes that should be implemented in order to achieve a successful economic transformation of China's economy. Through an exchange of ideas among the four Chinese authors, each of whom hail from different backgrounds, practical solutions are presented in the book.

The most comprehensive English-language overview of the modern Chinese economy, covering China's economic development since 1949 and post-1978 reforms--from industrial change and agricultural organization to science and technology.

China's economic growth has been revolutionary, and is the foundation of its increasingly prominent role in world affairs. It is the world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America. Multinational companies make billions of dollars in profits in China each year, while traders around the world shudder at every gyration of the country's unruly stock markets. Perhaps paradoxically, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip. China is frequently in the news, whether because of trade disputes, the challenges of its Belt and Road initiative for global infrastructure, or its increasing military strength. China's political and technological challenges, created by a country whose political system and values differ dramatically from most of the other major world economies, creates uncertainty and even fear. China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic and political story of the last three decades. Arthur Kroeber enhances our understanding of China's changes and their implications. Among the essential questions he answers are: How did China grow so fast for so long? Can it keep growing and still solve its problems of environmental damage, fast-rising debt and rampant corruption? How long can its vibrant economy co-exist with the repressive one-party state? How do China's changes affect the rest of the world? This thoroughly revised and updated second edition includes a comprehensive discussion of the origins and development of the US-China strategic rivalry, including Trump's trade war and the race for technological supremacy. It also explores the recent changes in China's political system, reflecting Xi Jinping's emergence as the most powerful leader since Mao Zedong. It includes insights on changes in China's financial sector, covering the rise and fall of the shadow banking sector, and China's increasing integration with global financial markets. And it covers China's rapid technological development and the rise of its global Internet champions such as Alibaba and Tencent.