Description
Will China's recent economic growth continue at the same rate? For how long? What obstacles lie in the way of sustained growth? Who gains and why? Gregory Chow covers these and many other issues. Provides a penetrating and comprehensive analysis of the historical, institutional and theoretical factors that have contributed to China's economic success Reveals new findings concerning the roles of market institutions, Chinese human capital, private ownership, forms of government, political conditions, and bureaucratic economic institutions The new edition covers a diverse set of important issues: environmental restraints; income distribution; rural poverty; the education system; healthcare; exchange rate policies; monetary policies; and financial regulation.
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Although China's economic growth can be said to have been driven primarily by an increase in entrepreneurship and a decline in government intervention, Chow (political economics and economics emeritus, Princeton U.) points out that other factors, including increased foreign investment, a significant rise in exports, reforms in finance and banking, and elements of international development also played significant roles. In this edition, which has been significantly updated to reflect new data and current thinking, Chow considers the historical background of China's meteoric rise and analyzes the macroeconomy, emphasizing growth, fluctuations, policies and politics. He describes changes in consumption patterns, the impact of western development and environmental policies, population issues and the rise of human capital, the banking and financial system (including the Shanghai stock price determination), and leading economic institutions and infrastructure, including corruption, the legal system, and educational policy. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)
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