That's 6. China's GDP grew at 6.
Its economy grew 7. China fueled its former spectacular growth with massive government spending.
- China's Growth: The Making of an Economic Superpower.
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The government owns strategically important companies that dominate their industries. But government ownership allowed China to direct the companies to high-priority projects. China requires several things of foreign companies who want to sell to the Chinese population.
China’s Growth: The Making of an Economic Superpower by Linda Yueh
They must open factories to employ Chinese workers. They must share their technology. Chinese companies use this knowledge to make the products themselves.
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It does this to manage the prices of exports to the United States. It wants them to be a little cheaper than those produced in America.
By managing its exchange rate, China can take advantage of this disparity. China's growth has reduced poverty. Only 3.
Companies will try to sell to this market, the largest in the world, and tailor their products to Chinese tastes. Growth is making China a world economic leader. China is now the world's biggest producer of aluminum and steel.
China’s Growth: The Making of an Economic Superpower? | School of Public Policy
Chinese tech companies quickly became market leaders. It is quickly becoming a world leader in developing 5G technology. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no references for this item.
China's Growth: The Making of an Economic Superpower
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Registered: Linda Yueh. China's economic growth has transformed the country from one of the poorest in the world to its second largest economy.
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This course provides a survey of long-term economic change in China from the mid-nineteenth century to the present. It focuses on China's long path to becoming a major global economic power at the beginning of the new millennium. The course examines the importance of ideological and institutional change in bringing about economic transformations by surveying major historical turning points such as the opening of China in the mid-nineteenth century, the collapse of the Qing in , the rise of the Communist regime in the s and the adoption of a reform policy since the late s.
It examines both the constraints as well as the capacity of a giant traditional economy to respond and regenerate in the face of external challenge from outside since the Opium War of the mid-nineteenth century.