China's Reforms At 30: Challenges and Prospects (Series on by Dali L. Yang, Litao Zhao

By Dali L. Yang, Litao Zhao

This ebook includes papers offered on the overseas convention on "China: the following Decade", equipped via the East Asian Institute on the nationwide collage of Singapore in 2007 to commemorate the Institute's tenth anniversary. With 8 papers masking China's monetary, social and political improvement, this quantity deals a balanced but in-depth review of the demanding situations dealing with China within the subsequent decade. that includes contributions from the world over well known students, this well timed quantity analyzes key elements of China's reforms and improvement, comparable to the monetary reform, overseas alternate, management succession, social protests, health and wellbeing care reform and ethnic relationships. it really is compatible for China students in addition to complicated undergraduate and graduate scholars attracted to China's polity, economic climate and society. Contents: tips on how to maintain China's progress Miracle? (E S Prasad); China's Mounting exterior Balances: exchange, overseas funding and nearby construction Sharing (S Y Tong & Y Zheng); China's Protest Wave: Political hazard or starting to be Pains? (A G Walder); The seventeenth social gathering Congress and the CCP's altering Elite Politics (You J); Diminishing Demographic Dividends: Implications for China's progress Sustainability (D Lu); in the direction of common assurance: China's New Healthcare coverage Reforms (E Gu); a brand new point of view in Guiding Ethnic family within the twenty first Century -- "De-politicization" of Ethnicity in China (R Ma); Is There an Asian worth? well known figuring out of Democracy in Asia (T-J Shi)

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Qxd 30 11/25/2008 8:29 PM Page 30 Sarah Y. Tong & Yi Zheng 300 239 177 200 with EU 101 100 41 5 0 17 44 29 12 24 23 30 26 with US 32 -12 with Taiwan with S. Korea -100 with Japan with ASEAN -200 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007* Fig. 6 China’s Trade Imbalances with Key Trade Partners, 1993–Nov. 2007 (US$ billion) China’s WTO accession in 2001 has evidently further strengthened its export competitiveness, the key to China’s surging trade surplus. On one hand, WTO membership has improved export conditions for Chinese products, which enjoy low production cost, improved productivity and favorable government policies.

Qxd 11/25/2008 8:29 PM Page 47 China’s Protest Wave 47 country’s political arrangements and, undoubtedly, a period of serious political instability. SOURCES OF REGIME SUPPORT What is the primary social basis of the regime’s support? It is not some identifiable occupational group, but the membership of the Chinese Communist Party and grassroots government functionaries. This may seem tautological, but it is not. The latter group is a cross-section of all occupations, and most of them are manual workers, farmers and other rural residents.

Another crucial point is that exchange rate flexibility should not be confused with full opening of the capital account. An open capital account would allow the currency to float freely and be marketdetermined. But the exchange rate can be made flexible and the objective of monetary policy independence achieved even if the capital account is not fully open. A concern often expressed by Chinese policymakers is that, given the fragility of the domestic banking system, exchange rate flexibility could be disastrous.

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