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The Oxford Companion to the Economics of China$
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Shenggen Fan, Ravi Kanbur, Shang-Jin Wei, and Xiaobo Zhang

Print publication date: 2014

Print ISBN-13: 9780199678204

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780199678204.001.0001

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The economics of China

The economics of China

Successes and challenges

Chapter:
(p.1) The economics of China
Source:
The Oxford Companion to the Economics of China
Author(s):
Shenggen Fan, Ravi Kanbur, Shang-Jin Wei, Xiaobo Zhang
Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199678204.003.0001

This introduction to a new collection of perspectives on the Chinese economy’s past, present, and future does not summarize the entries in the book. It provides the editors’ personal perspectives on the economics of China — past experience and future prospects. The reading of China’s economic development over the past thirty-five years raises two major sets of issues, one of which is inward looking, and the other of which is outward looking. While Chinese aggregate development is impressive, it has raised the question of whether the level of growth is sustainable, and has led to a set of distributional issues and well-being concerns. It is argued that these internal issues combine with those raised by China’s rapid integration and ever growing presence in the international arena to frame the challenges faced by China in the next thirty-five years, as it approaches the 100th anniversary of the People’s Republic in 2049.

Keywords:   China, economics, Chinese economy, economic development, international integration, sustainability, distributional concerns

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