Preliminary -- Tables, figures and boxes -- Abbreviations -- Preface -- A summary overview of emerging private enterprise in China -- 1. Introduction -- 2. Development of the role of private enterprise in China -- 3. Descriptions of the sample enterprises -- 4. Market competition -- 5. Finance -- 6. Taxation -- 7. Internal governance -- 8. Labour and managerialskills -- 9. Technological challenges -- 10. Laws and government administrative regulations -- References -- Index.
"China is so large that its trading interests and influence are global. But its interests are disproportionately powerful in its immediate Western Pacific and Asia Pacific partners. The evolution of China's economic relationships with its Asia Pacific partners, in which APEC came to play a significant role in the 1990s, is thus a central part of the story of China's rapidly growing and changing interaction with the global economy."- Ross GarnautAPEC is an important forum thorugh which China can demonstrate its commitment to economic openness. APEC has also been an important vehicle for China's trade liberalisation on the way towards accession to the WTO.In facilitating trade liberalisation, APEC and te WTO are mutually reinforcing. APEC prepares China for the WTO and WTO accession encourages China's active participation in the APEC process. Both APEC membership and WTO accession help with the huge task of China's domestic reform.This book sets out China's strategic interests in APEC in the lead-up to the APEC summit in Shanghai in 2001. Contributors include leading Chinese economists from the APEC Policy Research Centre in the Chinese Academy of Social Sciences–Zhang Yunling, Zhang Jianjun, Sun Xuegong, Li Kai, Chen Luzhi, Zhou Xiaobing, Zhao Jianglin–and from the Asia Pacific School of Economics and Management at The Australian National University–Peter Drysdale, Ligang Song, Ross Garnaut, hristopher Findlay, Andrew Elek, Yongzheng Yang, Yiping Huang, K.P. Kalirajan, Hadi Soesastro and Chen Chunlai
"China is so large that its trading interests and influence are global. But its interests are disproportionately powerful in its immediate Western Pacific and Asia Pacific partners. The evolution of China's economic relationships with its Asia Pacific partners, in which APEC came to play a significant role in the 1990s, is thus a central part of the story of China's rapidly growing and changing interaction with the global economy." - Ross Garnaut
APEC is an important forum thorugh which China can demonstrate its commitment to economic openness. APEC has also been an important vehicle for China's trade liberalisation on the way towards accession to the WTO.
In facilitating trade liberalisation, APEC and te WTO are mutually reinforcing. APEC prepares China for the WTO and WTO accession encourages China's active participation in the APEC process. Both APEC membership and WTO accession help with the huge task of China's domestic reform.
This book sets out China's strategic interests in APEC in the lead-up to the APEC summit in Shanghai in 2001. Contributors include leading Chinese economists from the APEC Policy Research Centre in the Chinese Academy of Social Sciences–Zhang Yunling, Zhang Jianjun, Sun Xuegong, Li Kai, Chen Luzhi, Zhou Xiaobing, Zhao Jianglin–and from the Asia Pacific School of Economics and Management at The Australian National University–Peter Drysdale, Ligang Song, Ross Garnaut, hristopher Findlay, Andrew Elek, Yongzheng Yang, Yiping Huang, K.P. Kalirajan, Hadi Soesastro and Chen Chunlai.
"The Chinese economy is currently undergoing a profound institutional transformation—a quiet revolution. In a regulated environment geared to the requirements of state-owned enterprises, the successs of the private sector as the main focus for economic growth is remarkable. State-owned enterprises are currently being restructured based on market conditions in which private firms are now permitted to play an important role. Fascinated by the implications of this reform within the Chinese economy, the Asia-Pacific School of Economics and Management of The Australian National University, in conjunction with the China Center for Economic Research of Peking University research team, conducted a large sample survey. Four study sites were chosen: Beijing, Chengdu, Shunde and Wenzhou. Leading economists analyse the nature and dynamics of private sector reform within the Chinese economy and make recommendations for policy which support opportunities for growth and investment. This work, originally published by Asia Pacific Press, is reproduced here in the interests of maintaining open access to high-quality academic works no longer in print."
1. Twenty years of economic reform and structural change in the Chinese economy / Ross Garnaut -- 2. Economic growth over the past twenty years / Xiaolu Wang -- 3. Agricultural reform / Yongzheng Yang -- 4. Trade reform and development / Ligang Song-- 5. State-owned enterprise reform / Yiping Huang -- 6. Financial system reform and implications / Michael Hasenstab -- 7. Labour market reform / Xin Meng -- 8. Changing income distribution in China / Li Shi -- 9. Review of economic reform in China: features, experiences and challenges / Zhao Renwei.
China's rise in a changing world /Jane Golley and Ligang Song --China's turbulent half-decade /Huw McKay --Reform of the international economic system /Yiping Huang, Weihua Dang and Jiao Wang --Why does China attempt to internationalise the Renminbi? /Yin-Wong Cheung, Guonan Ma and Robert N. McCauley --The technological content of China's exports and the need for quality upgrading /Kunwang Li and Ligang Song --The development of China's FDI laws and policies after WTO accession /Chunlai Chen --Chinese manufacturing firms' overseas direct investment /Bijun Wang and Huiyao Wang --China's petroleum predicament /Andrew B. Kennedy --Promoting global carbon equity and low-carbon growth: China's role in combating global climate change /Yongsheng Zhang --Chinese-US economic relations after the global financial crisis /Geoffrey Garrett --The importance of being earnest in defusing US-China trade tensions /Wing Thye Woo --Australia-China economic relations /Christopher Findlay --Chinese development aid in Africa: what, where why and how much? /Deborah Brautigam --Clash of the Titans /Peter E. Robertson --The effects of institutions on migrant wages in China and Indonesia /Paul Frijters, Xin Meng and Budy Resosudarmo --China's demographic challenges from a global perspective /Zhongwei Zhao --Population ageing, domestic consumption and future economic growth in China /Yang Du and Meiyan Wang --The route of urbanisation in China from an international perspective /Xiaolu Wang.
Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.
Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.
Preliminary -- Contributors -- Acknowledgments -- Chapter 1: Chinese economic reform anddevelopment: achievements, emerging challenges andunfinished tasks -- Part I: Long-Term Development: Trends and Issues -- Chapter 2: The turning period in China's economic development: a conceptual framework and new empirical evidence -- Chapter3: China model and its future -- Chapter 4: How will China's central-local governmental relationship sevolve? An analytical framework and its implications -- Chapter 5: China's metal intensity in comparative perspective -- Chapter 6: Assessing China's energy conservation and carbon intensity: how will the future differ from the past? -- Chapter 7: Prospects for diminishing regional disparities -- Part II: Global Integration: Challenges and Opportunities -- Chapter 8: Exchange rate policy and macro economic adjustment -- Chapter 9: The real exchange rate and the renminbi -- Chapter 10: China and East Asian trade: the decoupling fallacy, crisis and policy challenges -- Chapter 11: Asian foreign direct investment and the'China effect' -- Chapter 12: The global financial crisis and rural-urban migration -- Part III: Policy and Reform: Unfinished Business -- Chapter 13: Avoiding economic crashes on China's road to prosperity -- Chapter 14: Rebalancing China'seconomic structure -- Chapter 15: Urbanisation with Chinese characteristics -- Chapter 16: Indigenous innovationfor sustainable growth -- Chapter 17: China's health system and the next 20 years of reform -- Index.
China has made some remarkable achievements during the first three decades of economic reform and opening up, rising to become one of the world's most dynamic and globally-integrated market economies. Yet there remains much unfinished business on the reform and development agenda, coupled with newly emerging challenges. China: The Next Twenty Years of Reform and Development highlights how the deepening of reforms in critical areas such as domestic factor markets, the exchange rate regime and the health system, combined with the strengthening of channels for effective policy implementation, will enable China to cope with the challenges that lie ahead. These include responding to the pending exhaustion of the unlimited supply of labour; playing a constructive role in reducing global trade imbalances; enhancing firms' ability to innovate; coping with migration, urbanisation and rising inequalities on scales unknown in world history; and dealing with rising energy and metal demand in an era in which low-carbon growth has become a necessity rather than a choice.
ABSTRACTThis study investigates the effects of foreign direct investment (FDI) on emissions of five pollutants in China using a panel data set of 29 provinces over the period 1992–2004. The study applies a simultaneous equations estimation technique to estimate the scale, technique and composition effects of FDI on China's overall and regional pollution emissions. The estimation results show that FDI in general helps reduce pollution emissions in China, contributing largely to its technique effect. Capturing both the direct and indirect technique effects improves the accuracy in assessing the environmental impact of the FDI. The study also finds that the environmental impacts of FDI vary significantly among different regions and for different pollutants in China.
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The world and China's place in it have been transformed over the past year. The pressures for change have come from the most severe global financial crisis ever. The crisis has accelerated China's emergence as a great power. But China and its global partners have yet to think or work through the consequences of its new position for the governance of world affairs. China's New Place in a World in Crisis discusses and provides in-depth analysis of the following questions. How have China's growth prospects been affected by the global crisis? How will the crisis and China's response to it impact China's major domestic issues, such as industrialisation, urbanisation and the reform of the state-owned sector of the economy? How will the crisis and the international community's response to it affect the rapidly emerging new international order? What will be China's, and other major developing countries', new role? Can China and the world find a way of breaking the nexus between economic growth and environmental sustainability — especially on the issue of climate change?