How China Grows
Investment, Finance, and Reform
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How China Grows by James Riedel
Book DescriptionAlthough China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular--whether economists, political scientists, bankers, or business people
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Book DetailsISBN: 9780691125626
(216mm x 140mm x 20mm)
Imprint: Princeton University Press
Publisher: Princeton University Press
Publish Date: 19-Mar-2007
Country of Publication: United States
Books By Author James Riedel
Sustaining Export-Oriented Development, Paperback (October 1999)» View all books by James Riedel
Leading writers examine the remarkable post-war development of East Asian economies.
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Author Biography - James Riedel
James Riedel is Professor of International Economics at Johns Hopkins University's School of Advanced International Studies. Jing Jin is Director of China Strategy for UBS AG Hong Kong, and a professor at Beijing's Central University of Finance and Economics. Jian Gao is Vice-Governor of the China Development Bank in Beijing.
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