European Parliament Library

China's economic development, implications for the world, Cai Fang

"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"--, Provided by publisher
Table Of Contents
Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- Figures -- Tables -- Preface -- Part I Perspectives of Economic History and Growth Theory -- 1 Contributions Made By One Fifth of the World's Population -- Introduction -- World Economy's Engine and Stabilizer -- Seeking Basic Conditions for Economic Development -- Reviving Development Economics -- Conclusions -- Notes -- 2 The Development Track of Chinese Economic History -- Introduction -- M-type of Growth and the "Great Divergence Puzzle" -- L-type of Growth and China's Miracle -- T-type of Growth and "The Middle-Income Trap" -- S-type of Growth and Its Sustainable Source -- Conclusion -- Notes -- 3 Re-Understanding the Needham Puzzle From the Growth Perspective -- Introduction -- China's Economy in the Malthusian Trap -- Hypothesis of "high-Level Equilibrium Trap" -- Incentives for Human Capital and Material Capital Accumulation -- Conclusion -- Notes -- 4 Dual Economy as a General Development Stage -- Introduction -- Back to Classical Economy -- Population Growth as Take-Off Condition -- Agricultural Involution and the Formation of Dual Economy -- Traditional Economic Involution Before Take-Off -- Conclusion -- Notes -- Part II Narrative of Reform, Opening-Up, Development, and Sharing -- 5 What Can Be Learned From China's Experiences? -- Introduction -- Missed Convergence Opportunity Under the Planned Economy -- Logic and Process of the Reform and Opening-Up -- Cashing in Demographic Dividends in Reform and Opening-Up -- Conclusion -- Notes -- 6 Background, Logic, and Contributions of Rural Reform -- Introduction -- Rise and Fall of the People's Commune System: Utopian Experiment -- How to Create Exit Conditions in Rural Reform -- Declining Share of Agriculture as a Result of Development -- Return of Scale Economy
Literary Form
non fiction
Physical Description
1 online resource (389 pages)
Specific Material Designation
Form Of Item

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