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Remaking Monetary Policy in China

Remaking Monetary Policy in China
Author: Michael Beggs
Publisher: Springer
Total Pages: 125
Release: 2019-08-16
Genre: Business & Economics
ISBN: 9811397260

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This book covers the recent history of Chinese monetary policy. While most current work focuses on This book traces and explains the evolution of Chinese monetary policy in the years before 2008. The turn towards interest rate deregulation and market-oriented policy in China in recent years is often seen as a break with former command-and-control policy norms, in favour of Western central banking norms. We argue that Chinese monetary policy already went through a transformation under the influence of ‘new consensus’ macroeconomics after 1998, but that this surprisingly led to increased reliance on direct banking controls in the 2000s. Therefore, many of the controls that look to many like a remnant of central planning are in fact an outcome of an earlier attempt to ‘rationalise’ monetary policy, in unusual Chinese conditions. Specifically, policy returned to direct controls because of an underdeveloped interbank money market, and a glut of bank liquidity associated with enormous foreign exchange inflows in the mid-2000s.


Remaking the Chinese Leviathan

Remaking the Chinese Leviathan
Author: Dali L. Yang
Publisher: Stanford University Press
Total Pages: 436
Release: 2004
Genre: Political Science
ISBN: 9780804754934

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This book examines a wide range of governance reforms in the People's Republic of China, including administrative rationalization, divestiture of businesses operated by the military, and the building of anticorruption mechanisms, to analyze how China's leaders have reformed existing institutions and constructed new ones to cope with unruly markets, curb corrupt practices, and bring about a regulated economic order.


Remaking the Chinese City

Remaking the Chinese City
Author: Joseph W. Esherick
Publisher: University of Hawaii Press
Total Pages: 294
Release: 2001-10-31
Genre: History
ISBN: 9780824825188

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In China today skyscrapers tower over ancient temples, freeways deliver lines of cars and tour buses to imperial palaces, cinema houses compete with old theaters featuring Peking Opera. The disparity evidenced in the contemporary Chinese cityscape can be traced to the early decades of the twentieth century, when government elites sought to transform cities into a new world that would be at once modern and distinctly Chinese. Remaking the Chinese City aims to capture the full diversity of recent Chinese urbanism by examining the modernist transformations of China's cities in the first half of the twentieth century. Collecting in one place some of the most interesting and exciting new work on Chinese urban history, this volume presents thirteen essays discussing ten Chinese cities: the commercial and industrial center of Shanghai; the old capital, Beijing; the southern coastal city of Canton; the interior's Chengdu; the tourist city of Hangzhou; the utopian "New Capital" built in Manchuria during the Japanese occupation; the treaty port of Tianjin; the Nationalists' capital in Nanjing; and temporary wartime capitals of Wuhan and Chongqing. Unlike past treatments of early twentieth-century China, which characterize the period as one of failure and decay, the contributors to this volume describe an exciting world in constant and fundamental change. During this time, the Chinese city was remade to accommodate parks and police, paved roads and public spaces. Rickshaws, trolleys, and buses allowed the growth of new downtowns. Department stores, theaters, newspapers, and modern advertising nourished a new urban identity. Sanitary regulations and traffic laws were enforced, and modern media and transport permitted unprecedented freedoms. Yet despite their fondness for things Western and modern, early urban planners envisioned cities that would lead the Chinese nation and preserve Chinese tradition. The very desire for modernity led to the construction of a visible and accessible national past and the imagining of a distinctive national future. In their investigation of the national capitals of the period, the essays show how cities were reshaped to represent and serve the nation. To promote tourism, traditions were invented and recycled for the pleasure and edification of new middle-class and foreign consumers of culture. Abundantly illustrated with maps and photographs, Remaking the Chinese City presents the best and most current scholarship on modern Chinese cities. Its thoroughness and detailed scholarship will appeal to the specialist, while its clarity and scope will engage the general reader. Contributors: Michael Tsin on Canton, Ruth Rogaski and Brett Sheehan on Tianjin, David Buck on Changchun, Kristin Stapleton on Chengdu, Liping Wang on Hangzhou, Madeleine Dong on Beijing, Charles Musgrove on Nanjing, Stephen MacKinnon on Wuhan, Lee MacIsaac on Chongqing, and Jeffrey Wasserstrom and David Strand with concluding essays.


China's Great Train

China's Great Train
Author: Abrahm Lustgarten
Publisher: Macmillan
Total Pages: 342
Release: 2009-05-12
Genre: History
ISBN: 9780805090185

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Lustgarten's book is a timely and provocative account of China's unstoppable quest to build a railway into Tibet, and the nation's obsession to transform its land and its people.


One Road, Many Dreams

One Road, Many Dreams
Author: Daniel Drache
Publisher: Bloomsbury Publishing
Total Pages: 289
Release: 2019-07-11
Genre: Business & Economics
ISBN: 1912392070

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One Belt, One Road is China's bold plan to remake the global economy. It's an ambitious strategy with a $2 trillion – and rising – budget. The objective? To challenge the existing economic and political world order. One Road, Many Dreams reveals the true extent of China's ambition, analyses the impact of the One Belt, One Road initiative and assesses its chances of success and failure. This is the Asian century and China has a plan – to remake the world economy. Under its audacious One Belt, One Road strategy, China is investing trillions of dollars in hundreds of projects all around the globe. It's buying up ports, building transport networks and constructing major infrastructure. From hydroelectric plants to oil pipelines, China supplies the labour if needed, the raw materials and the finance, creating customers and boosting its own economy in the process. More than 80 nations have already joined China's increasingly less exclusive club and by 2049, when One Belt, One Road is set to end, its number of members is likely to rival the UN. So far, China has exercised its soft power of debt diplomacy and financial might shrewdly, serving the planet's overlooked middle-income and poor countries. The rest of the world needs to wake up because the scale of One Belt, One Road is unprecedented. Its implications for the global structure of power are potentially seismic as the geopolitical ties between Europe and Asia deepen. Written by three highly regarded political economists, One Road, Many Dreams examines the One Belt, One Road initiative from all angles. It looks at the projects and the players, the alliances and the governance. It explores the opportunities for China and the threat to the West, particularly for Trump's isolationist US administration. At home and abroad, China is staking its credibility as a superpower on One Belt, One Road. Its resources appear limitless, but One Road, Many Dreams asks a tough question: has China overreached? Or can it really pull this off and remake the world economy in its own interests?


The State Strikes Back

The State Strikes Back
Author: Nicholas R. Lardy
Publisher: Peterson Institute for International Economics
Total Pages: 258
Release: 2019-01-01
Genre: Business & Economics
ISBN: 0881327387

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China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.


China 2049

China 2049
Author: David Dollar
Publisher: Brookings Institution Press
Total Pages: 444
Release: 2020-06-09
Genre: Political Science
ISBN: 0815738064

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How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.


How China Escaped Shock Therapy

How China Escaped Shock Therapy
Author: Isabella M. Weber
Publisher: Routledge
Total Pages: 256
Release: 2021-05-26
Genre: Business & Economics
ISBN: 042995395X

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China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.


China's Gilded Age

China's Gilded Age
Author: Yuen Yuen Ang
Publisher: Cambridge University Press
Total Pages: 275
Release: 2020-05-28
Genre: Political Science
ISBN: 1108802389

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Why has China grown so fast for so long despite vast corruption? In China's Gilded Age, Yuen Yuen Ang maintains that all corruption is harmful, but not all types of corruption hurt growth. Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. While the first three types impede growth, access money - elite exchanges of power and profit - cuts both ways: it stimulates investment and growth but produces serious risks for the economy and political system. Since market opening, corruption in China has evolved toward access money. Using a range of data sources, the author explains the evolution of Chinese corruption, how it differs from the West and other developing countries, and how Xi's anti-corruption campaign could affect growth and governance. In this formidable yet accessible book, Ang challenges one-dimensional measures of corruption. By unbundling the problem and adopting a comparative-historical lens, she reveals that the rise of capitalism was not accompanied by the eradication of corruption, but rather by its evolution from thuggery and theft to access money. In doing so, she changes the way we think about corruption and capitalism, not only in China but around the world.


The Political Economy of Geoeconomics: Europe in a Changing World

The Political Economy of Geoeconomics: Europe in a Changing World
Author: Milan Babić
Publisher: Springer Nature
Total Pages: 218
Release: 2022-10-13
Genre: Political Science
ISBN: 3031019687

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This book brings together researchers from different analytical perspectives for the study of contemporary geoeconomics to create a broader and more useful catalogue of conceptual tools, empirical entry points, and case studies around the subject. The distinctive contribution this book offers is its firm rooting in International Political Economy and the hitherto under-researched geoeconomics dynamics of Europe. Many existing accounts of geoeconomics have been developed in International Relations and often reproduce some of the state-centric and static assumptions of the discipline. Recent scholarship furthermore tends to focus on the US-China rivalry, thus discounting the role of other global powers in shaping geoeconomics. As a first collective contribution to the topic in the field of International Political Economy, the book stands to become a major reference point in the field for the coming years. Interest in geoeconomics as well as in related concepts like weaponized interdependence or emerging new rivalries has been on the rise in recent years and will be one of the key research areas in the coming decade of transition and change in Europe and beyond. Chapters 1, 2 and 7 are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.