The state of the Chinese economy – structural changes, impacts and implications

Ligang Song*

*Corresponding author for this work

    Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

    2 Citations (Scopus)

    Abstract

    Structural changes: What is at stake? The question of how well China can cope with the impact of its entry to the World Trade Organization on its economy has drawn renewed attention since the country's formal admission to the organization on 11 December 2001. This is not only because competition from overseas has become imminent, but because the changes required under the terms for entry are huge, complex and, in many ways, challenging. A key to comprehending this issue is to have a clear understanding of the state of the Chinese economy, which in turn can only be understood in the context of structural changes that have been taking place in China since reform started in the late 1970s. Structural adjustments have both underpinned the progress in economic development that has been made during the reform period, and revealed the difficulties in resolving the remaining structural issues. These difficulties are generally regarded as the fundamental causes of many of the existing problems in the Chinese economy, which in turn may form obstacles for China in implementing its commitments as a member of the WTO. It is, therefore, important to identify what has been achieved and what remains to be done with respect to structural changes in the economy and their policy implications.

    Original languageEnglish
    Title of host publicationChina and the World Trading System
    Subtitle of host publicationEntering the New Millennium
    PublisherCambridge University Press
    Pages83-92
    Number of pages10
    ISBN (Electronic)9780511494482
    ISBN (Print)0521818214, 9780521818216
    DOIs
    Publication statusPublished - 1 Jan 2003

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