Fall 2020 not offered
China is a country that is both transitioning to a market-oriented economy and developing rapidly into a global economic power. As such, it has characteristics of both an emerging market economy and a developing country. China is large enough to create its own institutional infrastructure to support a third way between capitalism and socialism. This course examines in detail China's great economic transformation beginning in 1978 in what is often described as a "gradualist" transition to a market economy. In the last four decades, the speed of China's development and its growth rates of GDP are without precedent in history.
China entered the current decade with an unbalanced economy highly dependent on both state-financed investment through a state-controlled financial sector and a growth strategy focused on exporting finished goods to the global economy with the support of foreign direct investment. The current leadership recognizes the need to rebalance the economy by promoting more domestic-fueled growth through increased consumption so as to achieve more broad-based economic development. Many social issues remain to be tackled, among which are environmental degradation, income inequality, and an aging workforce. After developing the economic background that propelled China rapidly into middle-income-country status, this course considers these issues (and others) to provide insights into the fundamental question of "what is left to be done" to create a fully mature, developed market-oriented economic system open to the global economy.
||Gen Ed Area Dept:
|Course Format: Lecture / Discussion||Grading Mode: Graded|
||Fulfills a Major Requirement for: (CGST-MN)(CSS)