The Chinese Economy (Global Economies)

China’s transformation over the past four decades has been unprecedented. The vision of its leaders for the next three decades is unprecedented too. Stephen Morgan’s analysis of China's recent economic history examines the Chinese state’s quest to become the first economy to avoid the "middle income trap" without significant political and social liberalization. The book examines debates about the Chinese economic story from the time of the great divergence to the present day and considers wider issues beyond the usual GDP indicators, including well-being and human capital, business and the culture of management, ageing, urbanization and sustainability, consumerism, health, education and the environment with all their interlinked challenges. Whilst all key economic data are considered in context, the book analyses the specifics of development – capitalism from above and below and regional variances – and notably inequality where China has changed from one of the most equal countries to one of the most unequal. The book concludes with a look at China’s future, including concerns around the shrinking workforce (and rising dependency ratio), at innovation – vital to future progress – and productivity as well as its ambitious international projection (e.g. “One Belt One Road”) and plans to fashion an advanced economy, not just the world’s second largest. China’s transformation over the past four decades has been unprecedented. The vision of its leaders for the next three decades is unprecedented too, as China seeks to fashion an advanced economy without significant political and social liberalization. Stephen Morgan provides a wide-ranging examination of China’s remarkable economic history from the time of the great divergence to the present day. Alongside the familiar story of GDP growth, he considers a comprehensive range of issues, including business management, energy use, foreign direct investment, government, innovation and consumerism as well as social and demographic factors such as social networks, health, education and migration and their interlinked challenges for the Chinese state. The specifics of development are examined – capitalism from above and below and its regional variances – as well as notable consequences, including growing inequality and severe pollution. The book also assesses the challenges to China’s continued growth, including its ageing and shrinking workforce (and rising dependency ratio), the constraints on innovation and raising productivity, as well as its ambitious international plans. The book provides an accessible and authoritative survey of China’s recent economic history and the workings of its unique political economy suitable for courses in Asian business and economy, Chinese history and East Asian studies. China's transformation over the past four decades has been unprecedented. The vision of its leaders for the next three decades is unprecedented too, as China seeks to fashion an advanced economy without significant political and social liberalization.0Stephen Morgan provides a wide-ranging examination of China's remarkable economic history from the time of the great divergence to the present day. Alongside the familiar story of GDP growth, he considers a comprehensive range of issues, including business management, energy use, foreign direct investment, government, innovation and consumerism as well as social and demographic factors such as social networks, health, education and migration and their interlinked challenges for the Chinese state. The specifics of development are examined - capitalism from above and below and its regional variances - as well as notable consequences, including growing inequality and severe pollution. The book also assesses the challenges to China's continued growth, including its ageing and shrinking workforce (and rising dependency ratio), the constraints on innovation and raising productivity, as well as its ambitious international plans.0The book provides an accessible and authoritative survey of China's recent economic history and the workings of its unique political economy suitable for courses in Asian business and economy, Chinese history and East Asian studies Stephen Morgan provides a comprehensive analysis of China's unprecedented economic transformation and the specifics of its development, including issues such as well-being and human capital, inequality, ageing, urbanization and sustainability, consumerism, health, education and the environment.