Cracking the China conundrum : why conventional economic wisdom is wrong / Yukon Huang.
" China's rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China's economy is often wrong. Cracking the China Conundrum provides a holistic and...
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| Format: | Ebook |
| Language: | English |
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New York, NY :
Oxford University Press,
[2017]
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| Online Access: | Oxford Scholarship Online |
| Summary: | " China's rise is altering global power relations, reshaping economic debates, and commanding tremendous public attention. Despite extensive media and academic scrutiny, the conventional wisdom about China's economy is often wrong. Cracking the China Conundrum provides a holistic and contrarian view of China's major economic, political, and foreign policy issues. Yukon Huang trenchantly addresses widely accepted yet misguided views in the analysis of China's economy. He examines arguments about the causes and effects of China's possible debt and property market bubbles, trade and investment relations with the Western world, the links between corruption and political liberalization in a growing economy and Beijing's more assertive foreign policies. Huang explains that such misconceptions arise in part because China's economic system is unprecedented in many ways-namely because it's driven by both the market and state- which complicates the task of designing accurate and adaptable analysis and research. Further, China's size, regional diversity, and uniquely decentralized administrative system poses difficulties for making generalizations and comparisons from micro to macro levels when trying to interpret China's economic state accurately. This book not only interprets the ideologies that experts continue building misguided theories upon, but also examines the contributing factors to this puzzle. Cracking the China Conundrum provides an enlightening and corrective viewpoint on several major economic and political foreign policy concerns currently shaping China's economic environment. "-- "Few countries command as much public attention as China. Its economic successes have altered global power relations and reshaped the debate on the virtues of market-led versus state-led capitalism. Yet despite such extensive media and academic scrutiny, the conventional wisdom about China's economy is often wrong. Many see a collapse in the making but others see eventual domination of the global financial system. Yet whether one is debating its achievements or its vulnerabilities, the analysis of what has been happening is usually misguided. These include topics such as China's potential debt and property market bubbles, its trade and investment relations with the United States and Europe, its efforts to broaden its regional influence by reviving historical trade routes and the links between corruption, growth and political liberalization. If the diagnosis is flawed, then so are the related policy prescriptions. There are many reasons why such judgments have gone astray, beginning with the absence of any validated framework for understanding an economy driven by both the market and the state. Moreover, China size, regional diversity and its unique decentralized administrative system shape outcomes in ways that are not easily captured by simplistic indicators or the usual themes. The lack of suitable analytical tools is further complicated by the biases that flow from the differing social and cultural values between China and the West. "Cracking the China Conundrum" is the key to understanding the reality and developing the basis for a more constructive dialogue.""-- |
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| Physical Description: | 1 online resource (xvi, 263 pages) : illustrations |
| Format: | Mode of access: World Wide Web. |
| Bibliography: | Includes bibliographical references and index. |