Description
Book SynopsisFor some twenty-five years after 1949, China did not exist and the country was only rediscovered in the 1970s. As China looks set to soar in the new millennium, there is an urgency to understand the world's most populous economy with a billion plus people. This book aims to shed light on the country's rapid industrialization and internationalization by looking at questions such as: Can China sustain its accelerated rate of growth? Can labor supply be sustained at a relatively low wage rate? Can inflow of foreign direct investment be sustained at a high rate, given the consequent exposure to inflation? Will China's domestic market absorb its own output as the limit on the ability to export manufactures to overseas markets is reached? Is China's currency undervalued? Given China's foreign exchange reserves, should the country have a freely convertible currency?
Trade Review"Professor Dutta in China's Industrial Revolution and Economic Presence has provided the reader with a valuable overview of the performance of the Chinese economy over the past quarter century and an analysis of what it will take for China to sustain rapid growth in the future. The book is particularly interesting in its discussion of China's relations with its neighbors and with the outside world more generally in this era of globalization. There is a valuable chapter comparing a potential Asian economic union with what made a union possible in Europe, another chapter looking at foreign direct investment into China, and a chapter on the foreign economic sector more generally. Professor Dutta brings to this study a background in economics and economic development generally, enriched by frequent visits to China that inform his analysis." Professor Dr Dwight H Perkins Harold Hitchings Burbank Professor of Political Economy Harvard University "This is a comprehensive, well-documented and insightful account of China's economic development and globalization based on years of research and many visits to China. I recommend it very highly to all interested scholars and readers." Professor Gregory Chow Princeton University
Table of Contents# China's Industrial Revolution # China's Economic Presence # China and Asian Continental Economic Community: Intra Community Macro- and Microeconomic Parameters # Foreign Direct Investment (FDI) in China -- An Economic Appraisal: A Structural Change # China's Money and Financial Market # The Foreign Sector of the Chinese Economy # China's Industrial Revolution and Beyond
