One of the most disruptive events to the global order in recent history is that U.S. surpassed U.K. as the world's largest economy in the last century. However, China is expected to outrun U.S. as the world's largest economy in the 21st century. For anyone who wants to be globally literate, a basic familiarity with this most dynamic and enormous economy is a must. What factors contribute to the rise of China? How to profit from this growing and huge market? How did/will the rise affect the rest of the world? What are the challenges threatening the sustainable development of China? This course is designed to answer the above questions from multiple perspectives of economy, business, culture, and politics. We will first investigate the historical legacy and its impact on current economic development. Next, we will study the major economic players (governments and various types of firms) and their interactions. Then, we investigate human capital development and technology progress, which are believed to be the keys to future growth. In the fourth part, we identify the challenges undercutting its economic performance with emphasize on the unbalanced economic development pattern. Finally, we look at how China interacts with the rest of the world.
After you finish the course, you are supposed to:
- Understand the economic, political, social and cultural characteristics of China.
- Tell the differences in economic development strategies adopted by China and other transitional/developing economies.
- Be able to analyze the business culture of China.
- Be aware of the obstacles and difficulties besetting the economic growth and their roots.
- Be able to write effectively in essay exams and develop research topics related to this course for your future thesis.
Required Texts: 1. Naughton, Barry, The Chinese Economy, MIT Press, 2007. 2. Lin, Justin Yifu, Demystifying the Chinese Economy, Cambridge University Press, 2012.