How China Opened Its Door: The Political Success of the PRC's Foreign Trade and Investment Reforms (Google eBook)

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Brookings Institution Press, Jun 1, 2001 - Business & Economics - 120 pages
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China's transformation from a virtually closed economy to a major trading nation is an incredible success story. Since 1979 the country has changed it's policies to promote increased foreign trade and investment, thereby attracting more direct investment to China than to any other developing country in recent years. What brought about this change? How, after thirty years of being walled off form the world economy, did China open its door?This book part of the Integrating National Economies series, tells the story of how China ended it long-held policies of economic isolationism and rejoined the world economy in the decade and a half between 1979 and 1994. It shows how China's transformation into a world trading power was achieved remarkably without any major alteration in the country's communist political system. Susan L. Shirk describes the reform strategy and explains why such a turn-around was possible in China but not in the Soviet Union.Shirk's analysis details the political logic behind the economic reform, illustrating how China's leaders were able to win support for reform politics among Communist Party and government officials. Despite strong vested interest in the status quo, the communist government successfully adopted reforms through gradualism, administrative decentralization, and ad hoc particularistic negotiating with individual subordinates. Shirk explains these distinctive features of China's path to reform.China has achieved shallow integration with great success. Whether deeper integration with the world economy will automatically follow remains unclear. Shirk concludes that China will not be able to achieve reform in the areas of deep integration intellectual property rights, environmental protection, and labor treatment in the same way it achieved shallow integration. She argues that imposing international standards will require rapid enforcement, central regulation, and uniform rules. If China can meet these challenges, only then will the country successfully move toward greater openness and deeper international integration.A volume of Brookings' Integrating National Economies Series
  

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Contents

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Page xv - Cross-border economic integration and national political sovereignty have increasingly come into conflict, leading to a growing mismatch between the economic and political structures of the world. The effective domains of economic markets have come to coincide less and less with national governmental jurisdictions.'12 There is something of a paradox in this because the 'shift from state authority to market authority...
Page xiii - ... particular zeal, a practice now believed to have deepened and lengthened the Great Depression. After World War II, most national governments began sometimes unilaterally, more often collaboratively to lower their separation fences, to make them more permeable, or sometimes even to tear down parts of them. The multilateral negotiations under the auspices of the General Agreement on Trade and Tariffs (GATT) for...

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