China in the World Economy

By: Nicholas Lardy

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Paperback | 1 April 1994 | Edition Number 1

At a Glance

Paperback
156 Pages

Age
22+

Dimensions(cm)
22.88 x 15.43 x 0.87

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China is playing a growing role in the world economy. It is one of the world's fastest growing countries and is the tenth largest exporter. China is also a significant recipient of foreign aid and a major borrower on international capital markets. Even more significantly, it is attracting vast amounts of foreign direct investment.

China in the World Economy examines the implications of China's emergence as a major player in the world economy. Its integration into the international economic order poses major difficulties for the rest of the world. These problems including bringing China's mixed market/centrally planned economy into the GATT, adapting to competition from labor-intensive Chinese exports, encouraging further market-oriented reform, and accommodating its demand for international capital. But China's participation in the global economy also offers important opportunities for trade, investment and international cooperation to promote world peace and stability.

Nicholas Lardy anticipates that China will continue on a rapid growth path, thus magnifying the policy challenges and opportunities for its trading partners, including the U. S. He recommends a series of steps to facilitate China's full participation in the world economy.

Industry Reviews

Most readers will get all they need to know about China trade from this study.--Dwight Perkins, Harvard University If the Clinton administration wants to develop a more coherent national economic strategy that promotes US exports... it should ponder the ideas elaborated here.--Donald Zagoria "Foreign Affairs "

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