China is in the midst of transitioning from a manufacturing-based economy to one driven by innovation and knowledge. This up-to-date analysis evaluates China's state-led approach to science and technology, and its successes and failures. In recent decades, China has seen huge investments in high-tech science parks, a surge in home-grown top-ranked global companies, and a significant increase in scientific publications and patents. Helped by state policies and a flexible business culture, the country has been able to leapfrog its way to a more globally competitive position. However, the authors argue that this approach might not yield the same level of progress going forward if China does not address serious institutional, organizational, and cultural obstacles. While not impossible, this task may well prove to be more difficult for the Chinese Communist Party than the challenges that China has faced in the past.
In The Third Revolution, Elizabeth Economy, one of America's leading China scholars, provides an authoritative overview of contemporary China that makes sense of all of the seeming inconsistencies and ambiguities in its policies and actions.
This Element scrutinizes the attempts by the Chinese party-state bureaucracy since the 2000s to advance innovation and technological upgrading. It examines insights from the developmental state debate-the need for a bureaucracy to achieve internal coherence, and the capacity of that bureaucracy both to forge coalitions between bureaucrats, businessmen, and scientists, and to discipline domestic companies. Moreover, it assesses efforts to foster technological upgrading in semiconductors and electric vehicles. While there are significant differences between China and earlier successful developmental states, with the former facing problems such as the legacies of short-termism, limited monitoring capabilities, and flawed discipline over business, the authors find that, compared with other emerging capitalist economies, the Chinese bureaucracy has developed relatively strong capabilities to advance 'innovation-driven development'. This Element seeks to provide avenues for comparing it with other late developers.
After more than three decades of average annual growth close to 10 percent, China's economy is transitioning to a 'new normal' of slower but more balanced and sustainable growth. Its old drivers of growth -- a growing labor force, the migration from rural areas to cities, high levels of investments, and expanding exports -- are waning or having less impact. China's policymakers are well aware that the country needs new drivers of growth. This report proposes a reform agenda that emphasizes productivity and innovation to help policymakers promote China's future growth and achieve their vision of a modern and innovative China. The reform agenda is based on the three D's: removing Distortions to strengthen market competition and enhance the efficient allocation of resources in the economy; accelerating Diffusion of advanced technologies and management practices in China's economy, taking advantage of the large remaining potential for catch-up growth; and fostering Discovery and nurturing China's competitive and innovative capacity as China approaches OECD incomes in the decades ahead and extends the global innovation and technology frontier.
This book is open access under a CC BY-NC-ND 4.0 license. This book is arranged and developed around the theme of “2050 China,” it analyzes the factors and advantages of the Chinese road to socialist modernization, explores and summarizes the development goal and the basic logic of the socialist modernization of China, and further shows the general basis of the primary stage of socialism. According to the report delivered at the 19th Party Congress, and according to the “two-stage” strategic plan, this book looks ahead in detail to the overarching objective and sub-objectives of essentially achieving socialist modernization by 2035, discusses the building of a great modern socialist country in all respects from the perspective of the Party’s six-sphere integrated plan of economic, political, cultural, social, ecological civilization, and national defense construction, and provides policy proposals. This book also analyzes the influence and the effect of the socialist modernization with Chinese characteristics on the world and it further presents the third centenary goal. In conclusion, this book is an elaboration of the work of the Institute for Contemporary China Studies, Tsinghua University. It reflects the intellectual innovation in the authors’ research on contemporary China, as well as the authors’ foresight and predictions about China’s future development.
The global implications of China's rise as a global actor In 2005, a senior official in the George W. Bush administration expressed the hope that China would emerge as a “responsible stakeholder” on the world stage. A dozen years later, the Trump administration dramatically shifted course, instead calling China a “strategic competitor” whose actions routinely threaten U.S. interests. Both assessments reflected an underlying truth: China is no longer just a “rising” power. It has emerged as a truly global actor, both economically and militarily. Every day its actions affect nearly every region and every major issue, from climate change to trade, from conflict in troubled lands to competition over rules that will govern the uses of emerging technologies. To better address the implications of China's new status, both for American policy and for the broader international order, Brookings scholars conducted research over the past two years, culminating in a project: Global China: Assessing China's Growing Role in the World. The project is intended to furnish policy makers and the public with hard facts and deep insights for understanding China's regional and global ambitions. The initiative draws not only on Brookings's deep bench of China and East Asia experts, but also on the tremendous breadth of the institution's security, strategy, regional studies, technological, and economic development experts. Areas of focus include the evolution of China's domestic institutions; great power relations; the emergence of critical technologies; Asian security; China's influence in key regions beyond Asia; and China's impact on global governance and norms. Global China: Assessing China's Growing Role in the World provides the most current, broad-scope, and fact-based assessment of the implications of China's rise for the United States and the rest of the world.
Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
This book is devoted to the analysis of the Six Development Concepts of China titled “Xi Jinping's New Development Philosophy”, namely Innovative Development, Coordinated Development, Green Development, Open Development, Sharing Development, and Security Development. The book pursues three major objectives: firstly, to accurately portray the theoretical sources, practical innovation and major contents of these development ideas; secondly, to analyze what are the major relationships among these development ideas and their main common point is “people centered”, which is the largest theoretical innovation of this book. Thirdly, through analyzing China’s development idea, this book provides development paths, strategy, theories, and practical experiences for other developing countries.
This edited volume assesses governance innovation and institutional change under the fifth generation of China’s political leaders headed by Xi Jinping. The configuration of long-term policy innovation without regime change requires skilled political actors who secure strategic majorities and set up coalitions to design and launch new policies. Recalibrations or reconfigurations of the governance model respond to domestic reform pressures or external shocks in order to secure regime survival. Given that most structural constraints and reform pressures do not arise out of a sudden, the thrilling question is why the political elites sometimes decide not to engage in institutional reforms despite of widespread societal support for major restructuring and why they suddenly launch institutional changes in times of relative stability. The authors address these issues by focusing on basic patterns and paradigms of governance and institutional change in China, the actors and drivers of governance innovation, as well as the impact of norms, values, and socio-cognitive orientations. This is added by some reflections on the interplay between abstract ideas, reform debates, and the making of concrete decisions as outlined by the Third Plenum on (socio-)economic reforms in 2013 and the Fourth Plenum on rule-based governance (fazhi) in 2014.
This book focuses on China’s future under Xi Jinping’s authoritarian leadership by examining various facets of the political, economic, social and foreign policy trajectories of contemporary China. It assesses Xi Jinping’s power dynamic as the ‘core’ leader of the Communist Party of China (CPC) and analyses the impact of Xi’s signature domestic policies which demonstrate his political authority within the domestic sphere. Moreover, the book presents Xi’s pro-active, assertive and action-oriented outlook as a foundation for China’s diplomacy in the ‘new era’. Bringing together an international set of experts in the field who explore critical facets of China under Xi Jinping that deeply influence the regional as well as the global order, the book investigates the impact of Chinese initiatives such as the grand Belt and Road Initiative (BRI), the Asian Infrastructure Investment Bank (AIIB) and the BRICS New Development Bank (NDB). Importantly, the book illustrates US-China relations and outlines how this relationship will intensify in the post-COVID-19 era, which is poised to be one of the biggest challenges and turning points of the ‘Asian Century’. Offering a timely insight into China’s future and the trajectory of Xi Jinping’s consolidation of power, this book will be of interest to academics in the fields of China Studies, Asian and International Politics and International Relations.
