Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

Within thirty years of its humble beginnings, Taiwan was listed by the Organization for Economic Cooperation and Development (OECD) as one of ten newly industrialized countries (NICs). This book charts how and why such growth took place, and discusses areas of Taiwan's experience that might be useful in helping other countries achieve economic growth and improve their living standards.The second edition includes additional chapters and updated information and statistics.The author, one of the chief architects of Taiwan's economic development, worked with the government for forty years. Here, he draws on his extensive experience. He has held important positions such as Economics Minister, Finance Minister, and Minister without Portfolio dealing with, among other inter-ministerial problems, the Science and Technology Program. Presently, he is the Senior Advisor to the President. He has been involved in the development of economic, fiscal, monetary, industrial, international trade, manpower, science and technology policies.

Throughout the twentieth century Taiwan was viewed as a model - whether in terms of a model colony, a model China or a development model. This perception was based on the notion of Taiwan undergoing an economic miracle and political developments. Yet much of Taiwan’s history is unique and may not be readily replicable elsewhere. Written by an impressive line up of contributors from the US, UK, Taiwan, France and Hong Kong, this book analyzes Taiwan’s economic and political achievements, and asks whether it is possible to identify through the experience of a single nation – Taiwan – the makings of a replicable model. This book will appeal to students and scholars of Taiwan, political economy, and Asia-Pacific regional development issues.

Explores the application of constructivist theory to international relations. The text examines the relevance of constructivism for empirical research, focusing on some of the key issues of contemporary international politics: ethnic and national identity; gender; and political economy.

At publication date, a free ebook version of this title will be available through Luminos, University of California Press’s Open Access publishing program. Visit www.luminosoa.org to learn more. China’s relation to Taiwan has been in constant contention since the founding of the People’s Republic of China in October 1949 and the creation of the defeated Kuomintang (KMT) exile regime on the island two months later. The island’s autonomous sovereignty has continually been challenged, initially because of the KMT’s insistence that it continue to represent not just Taiwan but all of China—and later because Taiwan refused to cede sovereignty to the then-dominant power that had arisen on the other side of the Taiwan Strait. One thing that makes Taiwan so politically difficult and yet so intellectually fascinating is that it ­­is not merely a security problem, but a ganglion of interrelated puzzles. The optimistic hope of the Ma Ying-jeou administration for a new era of peace and cooperation foundered on a landslide victory by the Democratic Progressive Party, which has made clear its intent to distance Taiwan from China’s political embrace. The Taiwanese are now waiting with bated breath as the relationship tautens. Why did détente fail, and what chance does Taiwan have without it? Contributors to this volume focus on three aspects of the evolving quandary: nationalistic identity, social economy, and political strategy.

China has grown rapidly since the reform initiation of the 1970s. China’s Economic Growth Prospects narrates the contribution of demographic transition to recent economic growth in China, and provides suggestions for ways in which it can sustain growth over the next few decades. The expert author provides reasons for the economic slowdown since the second decade of the twenty-first century; explores the challenges facing China’s long-term sustainability of growth with the disappearance of demographic dividend; and proposes policy suggestions. He concludes that, in order to avoid the middle-income trap, economic growth in China must transform from an inputs-driven pattern, to a productivity-driven pattern. Academics, researchers and students of economics and business, particularly those specialising in China, will find this book to be a useful resource. Investment bankers, journalists, politicians and policy makers will find the discussions of past experience and the future potential of the Chinese economy to be of interest.

The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.