Chinese Economy

Since the initiation of economic reforms 30 years ago, China has become one of the world’s fastest-growing economies. However, the current global economic crisis has hit China hard – real GDP growth slowed to 9% in 2008, and many analysts predict the economy will slow even more sharply in 2009. This is of great concern to the Chinese government, which views healthy economic growth as critical to maintaining social stability. China also faces a number of other challenges to its economic growth and stability, including pervasive government corruption, an inefficient banking system, over-dependence on exports and fixed investment for growth, the lack of rule of law, severe pollution, and widening income disparities. This book describes in detail the despairing economic conditions that are affecting China and the steps that need to be taken in order correct these issues.