264 Pages
English
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Re-balancing China

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Gain access to the library to view online
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264 Pages
English

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Offers unique insight from a leading expert on the core issues affecting China’s political economy today.


‘Re-balancing China’ addresses three key sets of issues in China’s political economy. Part One of the text provides an analysis of the profound impact of the global financial crisis on China’s economy – an economy deeply integrated in the global economic system through trade and foreign investment. It also examines the positive outcomes of the massive rescue package that constituted China’s policy response to the crisis. The rescue package stimulated Chinese growth and helped to stabilize the global economy as a whole.


Part Two focuses on the challenge of globalization for China’s industrial policy. Since the 1980s, China has pursued an industrial policy aimed at nurturing a substantial group of globally competitive firms, most of which have become superficially successful. However, China still has a negligible number of large firms that are competitive in global markets. China’s experience presents a fundamental challenge to traditional concepts of industrial policy and development.


Finally, Part Three examines China’s international relations, the focal point of which is its relationship with the United States. The US has made it clear that its principal challenge in international relations is the ‘rise of China’ and has announced a ‘tilt towards the Pacific’ in its military strategy. As a result, the core of this interaction spans the East and South China Seas and the countries that surround this area.


Introduction; Chapter 1: Rebalancing in the Face of the Global Financial Crisis (I): November 2008; Chapter 2: Rebalancing in the Face of the Global Financial Crisis (II): November 2011; Chapter 3: China’s Industrial Policy at the Crossroads; Chapter 4: Globalization and Competition in Financial Services; Chapter 5: China, Western Colonialism and the UN Convention on the Law of the Sea (UNCLOS); Chapter 6: A New Peloponnesian War? China, the West and the South China Sea

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Published 01 February 2014
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EAN13 9781783081622
Language English
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Rebalancing China
Rebalancing China
Essays on the Global Financial Crisis, Industrial Policy and International Relations
Peter Nolan
Anthem Press An imprint of Wimbledon Publishing Company www.anthempress.com
This edition first published in UK and USA 2014 by ANTHEM PRESS 75–76 Blackfriars Road, London SE1 8HA, UK or PO Box 9779, London SW19 7ZG, UK and 244 Madison Ave #116, New York, NY 10016, USA
Copyright © Peter Nolan 2014
The author asserts the moral right to be identified as the author of this work.
All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the above publisher of this book.
British Library CataloguinginPublication Data A catalogue record for this book is available from the British Library.
Library of Congress CataloginginPublication Data Nolan, Peter, 1949– Rebalancing China : essays on the global financial crisis, industrial policy and international relations / Peter Nolan. pages cm Includes bibliographical references and index. ISBN 9781783081264 (hardback : alk. paper) 1. China–Economic policy–2000– 2. Industrial policy–China. 3. China–Foreign relations. 4. Global Financial Crisis, 2008–2009. I. Title. HC427.95.N655 2013 330.951–dc23 2013041421
ISBN13: 978 1 78308 126 4 (Hbk) ISBN10: 1 78308 126 0 (Hbk)
This title is also available as an ebook.
For Deirdre, Fionuala, Niam and Siobain
Acknowledgements List of Abbreviations List of Tables Introduction
Part I
Part II
C
O
N
TEN
TS
China and the Global Financial Crisis
1. Rebalancing in the Face of Crisis (1): November 2008
2. Rebalancing in the Face of Crisis (2): November 2011
the Global Financial
the Global Financial
Industrial Policy and the Global Business Revolution
3. China’s Industrial Policy at the Crossroads
4. Globalization and Competition in Financial Services
Part III International Relations  5. China, Western Colonialism and the UN Convention on the Law of the Sea (UNCLOS)
6. A New Peloponnesian War? China, the West and the South China Sea
Bibliography Index
ix xi xiii 1
11
31
77 141
177
201
231 237
ACKNOWLEDGEMENTS
I am most grateful to Elizabeth Briggs, for her expert editing of this volume. I am most grateful also to Bob Ash, Peter Garnsey and Jonathan Pincus, for their comments on earlier drafts of Chapter 5.