Is the Chinese Economy a Miracle or a Bubble?

This book presents a collection of articles by Professor Lawrence Juen-yee Lau from 1994 to 2018, discussing Chinese economic development over the past decades. With empirical findings, the author evaluates the relative importance of different sources of growth for the Chinese economy and scrutinizes the strategy of reform and development at various stages. Based on a comprehensive account of China’s macroeconomy, the author addresses the question of whether Chinese economic growth is an extraordinary ?miracle? or an implausible economic ?bubble.?