Record Details

China in the World Economy

Journal of Economics and Political Economy

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Field Value
 
Title China in the World Economy
 
Creator MAKHLOUF, Hany H.; School of Business and Public Administration
University of the District of Columbia
Washington, D.C. 20008
(301) 530-8551
 
Subject State-owned enterprises (SOEs); balance of trade, Asian Infrastructure Investment Bank (AIIB); Renminbi (RMB); Special Drawing Rights (SDRs); WTO.
F10; F15; F19
 
Description Abstract. After several decades of widely admired success in raising its gross national product (GNP) and becoming the world’s second largest economy behind the United States, doubts have recently emerged about the sustainability of China’s impressive economic success unless it undertakes major reforms and changes its growth model. Opinions vary, however, about China ever attaining the same level of growth that had been achieved in past decades, particularly since the 1978-79 reforms. Sometimes, expressing the present realities and forecasting the future is affected by the measures used, the observer’s expectations, and perceptions of what can or cannot be done to deal with current issues and problems. Often, it is a matter of perceiving the glass as half full or half empty. For some observers, the growth model, adopted since 1978-79, has been extremely successful in gaining the objectives sought, To others, that model resulted in many unintended consequences such as a wide disparity in incomes and excessive emphasis and reliance on manufacturing and exports at the expense of the service sector and domestic consumption. What cannot be disputed, nevertheless, is the fact that millions of Chinese have been lifted out of poverty, and incomes per capita have substantially increased. Instead of depending on foreign assistance, China is now an aid- giver and a major player in world economic affairs. This paper examines the current economic status of China, its transition from one of the poorest countries in the world, to become a middle income country despite the fact that it has a huge population of 1.3 billion people, and the imbalances that have emerged and have to be corrected to ensure sustained economic growth.Keywords. State-owned enterprises (SOEs), Balance of trade, Asian Infrastructure Investment Bank (AIIB), Renminbi (RMB), Special Drawing Rights (SDRs), WTO.JEL. F10, F40, J51, P33.
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor —
 
Date 2016-05-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/637
10.1453/jepe.v3i1.637
 
Source Journal of Economics and Political Economy; Vol 3, No 1 (2016): March; 105-110
Journal of Economics and Political Economy; Vol 3, No 1 (2016): March; 105-110
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/637/694
 
Rights Copyright (c) 2016 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0