China's Economy: What Everyone Needs To Know is a 2016 book by American author Arthur R. Kroeber, and part of the Oxford University Press series 'What Everyone Needs To Know'.[1] The book provides a broad overview of the rise of China's economy.[2][3]

About

Economic reform must come first, and political reform–if ever–a distance second [...] "Development is the only Iron Law".

Chp 1, China's Economy: What Everyone Needs To Know

The book starts with the initiation of modern economic reforms in China starting with the Deng Xiaoping in 1979 and his prioritization of development over politics, conveyed as "Development is the only Iron Law". The chapters of the book go on to cover - agriculture and the rural economy, industry, urbanization, infrastructure, state-owned and private enterprises, the financial system, demographics, the labor market, inequality and corruption.[4][5] The personalities and institutions in China that have led to its economic growth are discussed as well as the reforms that have worked, such as the 'de-collectivization of agriculture' into family farming, what would eventually become the single most important cause in the decrease in China's poverty levels from 84% in 1981 to 6% in 2011.[6] The book provides an overview of the structure of the country as a decentralized bureaucratic-authoritarianism.[3]

The book also compares China to China's neighbourhood, Japan, South Korea, Taiwan, which have also deeply influenced China's growth, with some major differences such as the level of influence of the United States on policy.[7] Many of the fears related to China's economic growth, such as a prospective property crash, are overstated.[8] The book also analyzes what the future holds for China, how Xi Jinping seems to be reinforcing his political strength, which may cause troubles to China's economy in the future.[8] The Sinica Podcast says that the book is a "refreshing antidote to much of the commentary in the media", the "conventional wisdom" related to China.[9]

References

  1. ↑ "What Everyone Needs To Know® - Oxford University Press". global.oup.com. Retrieved 2020-06-10.
  2. ↑ "BOOK REVIEWS - China's Economy: What Everyone Needs to Know, Author: Arthur R. Kroeber, Publishers: Oxford University Press, 2016, pp. 337 » Applied Economics Research Centre". Applied Economics Research Centre. 2019-06-21. Retrieved 2020-06-10.
  3. 1 2 Phillips, Matt (4 May 2016). "What everyone needs to know about China's huge debt load". Quartz. Retrieved 2020-06-10.
  4. ↑ Bulloch, Douglas (30 April 2016). "Getting China's Economy In Perspective: The View From Inside". Forbes. Retrieved 2020-06-10.
  5. ↑ "China's Economy: What Everyone Needs to Know® | Oxford University Press". www.oupjapan.co.jp. Retrieved 2020-06-10.
  6. ↑ Thoburn, John (2017-04-03). "China's economy: what everyone needs to know, by Arthur R. Kroeber/Developing China: the remarkable impact of foreign direct investment, by Michael J. Enright". Journal of the Asia Pacific Economy. 22 (2): 353–356. doi:10.1080/13547860.2017.1296242. ISSN 1354-7860. S2CID 158983028.
  7. ↑ "China's Economy: Does Growth Have a Future? | National Committee on United States - China Relations". www.ncuscr.org. Retrieved 2020-06-10.
  8. 1 2 "China's economy: Neither a bull nor a bear be - Growth is slowing but fears of collapse are overdone". The Economist. ISSN 0013-0613. Retrieved 2020-06-10.
  9. ↑ "Arthur Kroeber vs. The Conventional Wisdom". SupChina. Retrieved 2020-06-10.
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