Search results

From the Middle-Income Trap to the Threshold Effect -- How Does China Avoid "Secular Stagnation? -- Establishing a New Development Paradigm by Strengthening Comparative Advantage -- Dynamic Balance of Regional Economic Growth -- Productivity, New Growth Drivers and the Manufacturing Industry -- Tales of Cities: Fundamentals of Urban Development -- Human-Centered Macroeconomic Policies -- Innovation and Protection: Why We Should Prioritize Income Redistribution -- Moving Upward: Quality-oriented Development and Social Mobility -- Unlocking the Second Demographic Dividend.

"Cai Fang is one of China's most distinguished economists. This book elucidates the worldwide significance of China's economic development over the past 70 years from the perspectives of economic history and growth theory. The Chinese economy has undergone an unprecedented period of growth and development since the reform and opening-up in the late 1970s; a process which the hallmarks of neoclassic economic theory have often proved inadequate to explain. Examining the Chinese economy in the light of Chinese history and the development of the world economy as a whole, the book charts the milestones and critical reforms of China's economic development, providing insights into unique attributes as well as more generic patterns. The discussion covers multiple hot topics in the field, including the so-called Great Divergence, dual-sector economic development, real-world experience of the reform and opening-up, rural reform, urbanization, economic reform, poverty reduction, the latter day slowdown of China's economic growth, and China's role in and response to globalization, global supply domination and other headwinds. The book will be a must-read for students, scholars and general readers interested in the Chinese economy, economic development, political economy, and development economics"--

Intro -- Contents -- Part I China's Miracle -- 1 Understanding the Stages of Economic Development -- Demarcating Stages of Economic Development -- The Malthusian Poverty Trap: The Long Dark Night Before the "Grand Divergence" -- Driven by the Demographic Dividend: The Lewis Model -- The Lewis Turning Point and the Middle Income Trap -- Solow's Neo-classical Growth: Innovation Changes the World -- 2 How Fast Has the Chinese Economy Grown? -- Sustained, Rapid Growth: China's Economic Miracle -- The Achievements of China's Economic Growth -- China's Economic Growth is Undeniable -- How to Interpret the Judgment That China Is 'No. 1' for GDP -- On Calculations of China's Potential Growth Rate -- Declining Actual and Potential Growth Rates -- Stimulatory Policies Should Not Be Used to 'Preserve Growth' -- Raising the Potential Growth Rate Through Reforms -- The Chinese Economic Miracle and the Logic of Its Continuation -- 3 Understanding China's Development -- The Riddle of China's Development: A Noble Prize Grade Question -- Researching the Chinese Economy with a Critical Mindset -- Avoiding Biased Mindsets -- Counterfactuals -- Conventional Wisdom -- For Want of a Nail -- Stylised Facts About Economic Growth -- Kuznet's Facts on Modern Economic Growth -- Palant-Prescott Development Facts -- The Kaldor Facts -- The New Kaldor Model -- Decoding the Mystery of the 'Deceleration' of the Chinese Economy -- Why is There a Middle Income Trap -- Old Comparative Advantage Gone, New Comparative Advantage MIA -- Changes to Sources of Growth -- 4 Escaping Misunderstandings About the Relationship Between Population and the Economy -- A Large Population is No Barrier to Economic Growth -- The Ageing of the Population is Inevitable -- The Inevitable Disappearance of the Demographic Dividend -- Labour Supply is a Finite Resource.

Intro -- Preface -- Contents -- The Path of Reform: Grassroots Explorations and Top-Down Design -- 1 "Crossing the River by Feeling the Stones" to Find a Way in for the Reform -- 1.1 The Rural Reform -- 1.2 Development of the Non-public Sector of the Economy -- 2 Pushing the Market-economy Reform Forward as a Whole After the Southern Talks -- 2.1 From Developing the Commodity Market to Developing the Factor Market -- 2.2 Reform from the Microscopic Level to the Macroscopic -- 2.3 From Focus on Efficiency to Increased Attention to Equality -- 3 Disadvantage of Lacking a Top-Down Design: The Gradual Reform and Its Limitations -- 4 Disadvantage of Lacking Grassroots Explorations: The Wang Anshi Reform and the Shock Therapy -- 4.1 The Wang Anshi Reform -- 4.2 The Shock Therapy -- 5 Comprehensively Deepening the Reform Needs the Top-Down Design Combined with the Grassroots Explorations -- 5.1 Initiation of Comprehensive Deepening of the Reform -- 5.2 Top-Down Implementation is a Valuable Lesson of China's Reform -- 5.3 From "Crossing the River by Feeling the Stones" to Designing from the Top Down -- 5.4 Explorations at the Grass Roots and Trials Ensured the Reform to Secure Final Success -- 5.5 The Only Path to Comprehensively Deepened Reform is Constant Combination of Designing from the Top Down with Explorations at the Grass Roots -- Opening-Up: From Participant to Leader -- 1 Introduction: Meeting the World in 1978 -- 2 International Background -- 2.1 Evolution of the Cold War Between the West and the East -- 2.2 China Against Regional Hegemonism -- 2.3 The Success Experiences of Open Asian Economies -- 2.4 No More World Wars -- 3 The Course of the Opening-Up: From Participation Through Integration to Leading the Trend -- 3.1 To Reform and Open up to Participate in the Global Economy -- 3.2 Joining the WTO and Integrating in the Global Economy.

"China is historically famous for its high demographic dividend and its huge working population and this has driven tremendous economic growth over the past few decades. However, that population has begun to shrink and the Lewis turning point whereby surplus rural population has been absorbed into manufacturing is also approaching, leading to great change in the Chinese labor market. Will this negatively affect China's economic growth? Can the "Middle-Income Trap" be avoided? What reforms should be made on the labor supply side? This book tackles these key questions. This book is a collection of 14 papers presenting the author's observations, analysis, and opinions of China's long-term economic development from the demographic perspective, while analysing real economic problems from the past and including policy recommendations. It provides a critical reference for scholars and students interested in Chinese economic development and demographic perspectives on economic development."

"China has experienced tremendous developmental success since its reform and opening up policy in 1978. What have contributed to China's high-speed economic growth? What lessons can be learnt from China's successful case? What might be the challenges that China would face on its path to a high-income country? These are some critical questions this book addresses. Based on the facts and economic logic, this book briefly narrates the history of China's successful development in the past 40 years and explains why the China's reform and opening-up has boosted the high-speed growth of its economy. Recognizing the change in the stage of economic development, the author reveals the emerging challenges facing China when transitioning from middle-income country to high-income country. He proposes that the country should transit from the demographic dividend to reform dividend to sustain the long-term development. With its scholarly analysis and plain language, this book would not only attract scholars and students in economics and China studies, but also readers interested in the development of Chinese economy."

Preliminary Material -- 1 A Nationwide Monitoring Survey Report on Migrant Workers in 2012: Household Survey Office, National Bureau of Statistics /Liquan Peng -- 2 Labor Supply and Policies during the New Stage of Economic Development /Yang Du and Yang Lu -- 3 The Cost of Household Registration System Reform and the Push for Urbanization with Equal Provision of Basic Public Services /Xiaobo Qu and Jie Cheng -- 4 A Roadmap for Reforming China's Household Registration System /Kam Wing Chan -- 5 Changes in the Levels of Consumption by Migrant Workers and Determining Factors /Meiyan Wang -- 6 Proactive Employment Policies Targeting Groups with Employment Difficulties /Yang Du and Jie Cheng -- 7 Social Protection is not a 'Negative Incentive': Resolving "Mill's Dilemma" as the Stage of Development Changes /Fang Cai -- 8 Demand and Supply of Human Capital and the Transformation and Development of Higher Education in the Age of Mass Higher Education /Ruiwen Hu , Haishui Zhang and Xi Zhu -- 9 The Lewisian Turning Point and a New Model of Economic Growth /Yiping Huang -- Index.

This book explains why China's opening-up policy can boost the rapid growth of its economy. Based on concrete facts and economic logic, it offers a brief introduction to the history of China's successful development, which has unprecedentedly helped improve people's lives and community welfare over the past 30 years. In light of the newly emerging problems, the author assesses the different stages of China's economic development and new challenges, illustrating how the country's sustainable growth could be achieved through further reforms so as to complete the transition from a middle-income t

Preliminary Material -- 1 Looking at the Future of China's Population from the Sixth National Population Census and United Nations Population Projections /Cai Yong -- 2 Provincial Disparities in Changes in Fertility and Related Implications /Niu Jianlin -- 3 Intergenerational Effects on Fertility and Intended Family Size: Implications for Future Fertility Change in China /Zheng Zhenzhen -- 4 When Demographic Dividends Disappear: Growth Sustainability in China /Cai Fang and Zhao Wen -- 5 Accumulating Human Capital for China's Sustainable Growth /Cai Fang and Wang Meiyan -- 6 Changes to the Employment Structure and Problems /Zhang Juwei -- 7 Labor Market Vulnerability in Urban China /Du Yang , Qu Yue and Cai Fang -- 8 Employment Elasticity and Its Implications for Employment Policy in the "12th Five-Year Period" /Qu Xiaobo -- 9 Changes to the Industrial Structure and Regional Migration during the 12th Five-Year Plan Period /Wu Yaowu -- 10 Wage Increase, Wage Convergence, and the Lewis Turning Point in China /Cai Fang and Du Yang -- 11 Intensified Reform of the Labor Market and Abolishment of the Rural-Urban Divide /Zhang Zhanxin and Hou Huili -- Index.

Preliminary Material -- 1 Looking at the Future of China's Population from the Sixth National Population Census and United Nations Population Projections /Cai Yong -- 2 Provincial Disparities in Changes in Fertility and Related Implications /Niu Jianlin -- 3 Intergenerational Effects on Fertility and Intended Family Size: Implications for Future Fertility Change in China /Zheng Zhenzhen -- 4 When Demographic Dividends Disappear: Growth Sustainability in China /Cai Fang and Zhao Wen -- 5 Accumulating Human Capital for China's Sustainable Growth /Cai Fang and Wang Meiyan -- 6 Changes to the Employment Structure and Problems /Zhang Juwei -- 7 Labor Market Vulnerability in Urban China /Du Yang , Qu Yue and Cai Fang -- 8 Employment Elasticity and Its Implications for Employment Policy in the "12th Five-Year Period" /Qu Xiaobo -- 9 Changes to the Industrial Structure and Regional Migration during the 12th Five-Year Plan Period /Wu Yaowu -- 10 Wage Increase, Wage Convergence, and the Lewis Turning Point in China /Cai Fang and Du Yang -- 11 Intensified Reform of the Labor Market and Abolishment of the Rural-Urban Divide /Zhang Zhanxin and Hou Huili -- Index.

Transforming the Chinese Economy is a translated collection of articles providing a look at how scholars in China have been assessing their country's recent economic history, and as such, does not simply provide information for the direct study of economic issues, but also for meta-level analysis of the interplay of China's policy, scholarship, and economy.