The Chinese Economy: Past, Present and Future - Stanford University

The Chinese Economy:

Past, Present and Future

Lawrence J. Lau, Ph. D., D. Soc. Sc. (hon.)

Kwoh-Ting Li Professor of Economic Development

Department of Economics

Stanford University

Stanford, CA 94305-6072, U.S.A.

February 2000

Phone: 1-650-723-3708; Fax: 1-650-723-7145

Email: ljlau@stanford.edu; Website: stanford.edu/~ljlau

The Chinese Economy Today (1)

u

u

u

u

u

East Asia is the fastest-growing region in the world over the past two

decades

China is the fastest growing country in East Asia¡ª10% p.a. since

economic reform (1979)

China is one of the very few socialist countries that have made a

successful economic transition from a centrally planned to a market

economy

China and Hong Kong are the only two economies the currencies of

which have not been devalued amidst the East Asian currency crisis

China and Taiwan are the only two economies with significant

positive rates of growth in 1998

Lawrence J. Lau, Stanford University

2

The Chinese Economy Today (2)

U.S.

China

US$ (current prices)

1999 GDP

9,248 bill.

1,005 bill.

1999 GDP per capita

33,857

805

Lawrence J. Lau, Stanford University

3

The Chinese Economy Today (3)

1979

1999

US$ (1995 prices)

Real GDP

169 bill.

985 bill.

Real GDP per capita

174

793

Lawrence J. Lau, Stanford University

4

The Chinese Economic Reform

(1979-the present)

u

The Open Door

u

u

u

International Trade

Foreign Direct Investment

Marketization

u

u

u

u

u

Goods Market

Labor Market

Foreign Exchange Market

Housing Market

Capital Market

Lawrence J. Lau, Stanford University

5

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download