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Understanding China's Economy

The Turning Point and Transformational Path of a Big Country

  • Book
  • © 2021

Overview

Authors:
  1. Fang Cai

    1. Chinese Academy of Social Sciences, Beijing, China

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  • Deeply analyzes economic changes in China over 40 years

  • Explores the puzzle of Chinese high-speed development

  • Explains how the Chinese economy avoided falling into the trap of middle income

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-viii
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  3. The Development Turning Point

    1. Front Matter

      Pages 81-81
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    2. The Lewis Turning Point for Large Countries

      • Fang Cai
      Pages 83-97

    3. The Demographic Transition and Labour Supply

      • Fang Cai
      Pages 99-111

    4. The Challenges After the Lewis Turning Point

      • Fang Cai
      Pages 113-131

    5. China’s Second Demographic Dividend

      • Fang Cai
      Pages 133-146

  4. Sidestepping the Trap

    1. Front Matter

      Pages 147-147
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    2. China’s Inevitable Speed Bump

      • Fang Cai
      Pages 149-165

    3. Understanding the Middle Income Trap

      • Fang Cai
      Pages 167-179

    4. Employment Issues: From the Aggregate to the Structural

      • Fang Cai
      Pages 181-193

    5. The Income Distribution Kuznets Turning Point

      • Fang Cai
      Pages 195-206

  5. Creating a New Miracle

    1. Front Matter

      Pages 207-207
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    2. Can China Create Another Economic Miracle?

      • Fang Cai
      Pages 209-231

    3. From the Demographic Dividend to the Reform Dividend

      • Fang Cai
      Pages 233-252

    4. From the Demographic Dividend to the Open Dividend

      • Fang Cai
      Pages 253-269
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Keywords

About this book

This book reviews and examines the reform and opening up in China from 1978 to 2011. It analyzes how China avoided to fall into the middle-income trap over those 33 years. The book makes a deep analysis of understanding how Chinese economy became a miracle in the world economic history and its development stages, as well as the overseas erroneous understanding of the existence of Chinese economy. The author analyzes from three aspects: how to break the “impossible triangle”, how to achieve middle-to-high speed growth in L model, and how to release a new dividend of urbanization. After Chinese economy entered the Lewis turning point, China faced the dilemma of labor transformation and the disappearance of demographic dividend, the demographic dividend turned to the reform dividend. The author points out and suggests that a new round of growth should be achieved by improving the total factor productivity in order to find a new way for the Chinese economy. This book plays an important role of comprehending Chinese economy under current complex economic situation.

This book helps readers to understand Chinese economy from many aspects: impossible triangle, L model growth, Malthus trap, dual economy, aging problem, demographic dividend, reform dividend, trap of middle income, globalization, etc. The author as an economist aims for the public explaining the professional knowledge in a concise and easy way. This book delivers the information of discerning and understanding the economic trend, and predicting the future.


Authors and Affiliations

  • Chinese Academy of Social Sciences, Beijing, China

    Fang Cai

About the author

Cai Fang is the chief expert of National Think Tank and Academician of the Chinese Academy of Social Sciences. He is a member of the Standing Committee and Vice Chairman of the Agricultural & Rural Affairs Committee of the 13th National People’s Congress of China. Professor Cai’s research interests include: China’s economic reform and development, population economics, labor economics, and poverty. Professor Cai’s recent publications include: Demystifying the Economic Growth in Transition China, China’s Economic Development and Its Implications for the World.

Bibliographic Information

  • Book Title: Understanding China's Economy

  • Book Subtitle: The Turning Point and Transformational Path of a Big Country

  • Authors: Fang Cai

  • DOI: https://doi.org/10.1007/978-981-33-6322-9

  • Publisher: Springer Singapore

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: CITIC Press Corporation 2021

  • Hardcover ISBN: 978-981-33-6321-2Published: 24 March 2021

  • Softcover ISBN: 978-981-33-6324-3Published: 25 March 2022

  • eBook ISBN: 978-981-33-6322-9Published: 23 March 2021

  • Edition Number: 1

  • Number of Pages: VIII, 278

  • Number of Illustrations: 35 b/w illustrations

  • Topics: Asian Economics, Development Economics, Popular Science in Economics

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