By C. Harvie
As a potential fiscal colossal within the subsequent century, advancements within the chinese language financial system are of value to the worldwide economic climate. This ebook comprises contributions occupied with reading modern advancements and concerns dealing with the rustic after 20 years of financial reform, and key regulations in an effort to exert a profound effect upon the country's potential development and improvement momentum into the subsequent millennium.
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Extra info for Contemporary Developments and Issues in China's Economic Transition
Example text
4 per cent. Hence the early indications in 1998 suggested that declines in FDI by the crisis-affected Asian economies in China were being offset to some extent by that from the EU and USA in particular. China's exports to crisis-affected economies in East Asia were also anticipated to decline. 9 per cent recorded for the whole of 1997. 5 per cent. Some industries, such as textiles, experienced major difficulties. 8 per cent GDP growth in 1997, its significance to the overall economy, however, should not be overstated.
5 per cent of China's exports. Hence the biggest external threat would come from a further slowdown in the Japanese economy. There is also likely to be a moderate reduction in export growth to the USA and the EU, due to conservative fiscal and monetary policies in Europe because of the Euro, combined with the effects of greater competitiveness of ASEAN countries and Korea. The overall net effect is a likely export-growth slowdown from about 21 per cent in 1997 to perhaps around 10 per cent in 1998.
The authorities have not pursued a strategy of mass privatization as in some of the transitional economies of Eastern Europe and the former Soviet Union. This has been limited to maintaining the dominance of public ownership and control of strategic sectors in the economy, supplemented by non-state and private ownership. This modified definition has allowed the authorities considerable leeway in implementing policies that promote the development of the market system, such as the use of material incentives.