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Cracking the China Conundrum
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Cracking the China Conundrum: Why Conventional Economic Wisdom is Often Wrong

Yukon Huang

Abstract

China is an abnormal economic power. No country has grown so rapidly for so long and in such an extreme manner. Media coverage has soared because China’s rise is now challenging the world’s balance of power. Yet one is as likely to read about a possible financial crisis as its emergence as the world’s largest economy. But much of the analysis is flawed, as are many of the policy prescriptions. China’s unbalanced growth, for example, is seen as a risk but in reality is a virtue. Its soaring debt levels are perceived as signaling a financial collapse but can also be interpreted as evidence of fi ... More

Keywords: China’s rise, unbalanced growth, financial crisis, geopolitical tensions, trade, foreign investment, corruption, political liberalization, balance of power

Bibliographic Information

Print publication date: 2017 Print ISBN-13: 9780190630034
Published to Oxford Scholarship Online: July 2017 DOI:10.1093/oso/9780190630034.001.0001

Authors

Affiliations are at time of print publication.

Yukon Huang, author
Senior Associate, Asia Program, Carnegie Endowment for International Peace, Washington, DC