| ID | 087648 |
| Title Proper | China Faces up to the Global Economic Crisis |
| Language | ENG |
| Author | Berger, Yakov |
| Publication | 2009. |
| Summary / Abstract (Note) | China's growing involvement in the global economy and politics brings it considerable benefits. China gets unrestricted access to world markets for goods and services to supply to, to natural resources and fuels, new technologies and modern managerial know-how, and to international organizations that adopt decisions critical to China's development. All these benefits are acquired at the cost of the country's rising dependence on worldwide developments, market ups and downs, and even worldwide cataclysms.1 The current global financial and economic crisis shows this beyond a shadow of doubt. Accordingly, debates are erupting now and then in China about the balance of gain and loss; about the best way to use the advantages of being involved in globalization and to avoid its most destructive consequences; and also about what is needed to maintain the country's economic and political sovereignty and security without fencing itself off from the rest of the world, but instead take the position of a responsible participant and agent of world history.
Crises in the free-market economy that China is determined to build are certainly unavoidable. The key issue is then to realize that the market, the principal advantages of which are higher competitiveness of enterprises, the state itself, and individuals, cannot correct its inevitable deficiencies all by itself. While promoting a free-market economy, therefore, China is seeking to keep very power- |
| `In' analytical Note | Far Eastern Affairs Vol. 37, No. 1; 2009: p56-71 |
| Journal Source | Far Eastern Affairs Vol. 37, No. 1; 2009: p56-71 |
| Key Words | China ; Global Crisis ; Active Financial Policy ; Export ; Investments ; Domestic Demand ; Taxes ; GDP Growth, ; World Financial Policy |