Why did it take China more than a century after its defeat in the first Opium War to begin systematically acquiring the fruits of modern technology? To what extent did the rapid economic developments after 1949 depend on features unique to China and to Chinese history as well as on the socialist reorganization of society? These are the major questions examined in this collection of papers which challenges many previously accepted generalizations about the nature and extent of advances in China's economy during the twentieth century. The papers discuss the positive and negative effects of foreign imperialism on Chinese economic development, the adequacy of China's financial resources for major economic initiatives, the state of science and technology in late traditional China, the changing structure of national product and distribution of income, the cotton textile and small machine-building industries as examples of pre-1949 economic bases, the village-market town structure of rural China, the tradition of cooperative efforts in agriculture, and the influence of the Yenan period on the economic thinking of China's leaders.

Why did it take China more than a century after its defeat in the first Opium War to begin systematically acquiring the fruits of modern technology? To what extent did the rapid economic developments after 1949 depend on features unique to China and to Chinese history as well as on the socialist reorganization of society? These are the major questions examined in this collection of papers which challenges many previously accepted generalizations about the nature and extent of advances in China's economy during the twentieth century. The papers discuss the positive and negative effects of foreign imperialism on Chinese economic development, the adequacy of China's financial resources for major economic initiatives, the state of science and technology in late traditional China, the changing structure of national product and distribution of income, the cotton textile and small machine-building industries as examples of pre-1949 economic bases, the village-market town structure of rural China, the tradition of cooperative efforts in agriculture, and the influence of the Yenan period on the economic thinking of China's leaders.

The first English translation of Li Bozhong's pioneering study of GDP in early modern China.

The most comprehensive English-language overview of the modern Chinese economy, covering China's economic development since 1949 and post-1978 reforms--from industrial change and agricultural organization to science and technology.

This book makes an important contribution to the study of changes in China’s institutions and their impact on the national economy as well as ordinary people’s daily material life from 1800 to 2000. Kent Deng reveals China’s mega-cycle of prosperity-poverty-prosperity without the usual attribution to the 1840 Opium War, or the alleged population pressure, class struggle and oriental despotism. The book challenges the conventional view on ‘rebellions’, ‘revolutions’ and their alleged motivations and outcomes. Its findings separate commonly circulated myth with reality based on solid evidence and careful evaluation. The benchmark used by the author is people’s entitlement and mundane day-to-day material well being, instead of the stereotype of aggregates of industrial hardware and national GDP. China’s Political economy in Modern Times proves that state-building was the prime mover in China’s modern history. Contrary to the popular belief in mass movement, Deng shows convincingly that changes were in most cases imposed by a minority with external help. Therefore, the quality of the state was unpredictable, seen from the anti-state that cost lives and economic growth. This book will be of interest to students and scholars of Chinese Politics, Chinese Economics, Chinese History, and Political Economy.

China's economic growth has been revolutionary, and is the foundation of its increasingly prominent role in world affairs. It is the world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America. Multinational companies make billions of dollars in profits in China each year, while traders around the world shudder at every gyration of the country's unruly stock markets. Perhaps paradoxically, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip. China is frequently in the news, whether because of trade disputes, the challenges of its Belt and Road initiative for global infrastructure, or its increasing military strength. China's political and technological challenges, created by a country whose political system and values differ dramatically from most of the other major world economies, creates uncertainty and even fear. China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic and political story of the last three decades. Arthur Kroeber enhances our understanding of China's changes and their implications. Among the essential questions he answers are: How did China grow so fast for so long? Can it keep growing and still solve its problems of environmental damage, fast-rising debt and rampant corruption? How long can its vibrant economy co-exist with the repressive one-party state? How do China's changes affect the rest of the world? This thoroughly revised and updated second edition includes a comprehensive discussion of the origins and development of the US-China strategic rivalry, including Trump's trade war and the race for technological supremacy. It also explores the recent changes in China's political system, reflecting Xi Jinping's emergence as the most powerful leader since Mao Zedong. It includes insights on changes in China's financial sector, covering the rise and fall of the shadow banking sector, and China's increasing integration with global financial markets. And it covers China's rapid technological development and the rise of its global Internet champions such as Alibaba and Tencent.

An insightful account of the remarkable transition of the Chinese economy from impoverished backwater to economic powerhouse.