China has experienced dramatic growth and development in the past two decades of economic reform. Yet, since the Asian crisis, the growth rate has declined from its historically high levels and deep-rooted problems such as unemployment, income inequality, surplus rural labour and non-performing debt in state enterprises have resurfaced - all with the potential to undermine the sustainability of growth.China in the Global Economy focuses on the theme of twin transitions occurring in the Chinese economy: the transition from a centrally planned economic system to a market oriented one, and from an agrarian to a modern industrialised society. China's exporters face unprecedented competition in the world market and the flow of foreign direct investment has fallen restraining the growth of the domestic economy. These new challenges have fuelled debate on the perspective of the Chinese economy and its role in the global economy.The book covers developments in the macroeconomy, productivity and reform of state-owned enterprises, issues of international trade such as the management of the exchange rate, the pattern of exports and the development of e-commerce and problems in the agricultural sector and the environment.This important and highly topical book will be warmly welcomed by economists as well as academics and researchers involved with both Asian and globalisation studies.

China has experienced dramatic growth and development in the past two decades of economic reform. Yet, since the Asian crisis, the growth rate has declined from its historically high levels and deep-rooted problems such as unemployment, income inequality, surplus rural labour and non-performing debt in state enterprises have resurfaced - all with the potential to undermine the sustainability of growth.China in the Global Economy focuses on the theme of twin transitions occurring in the Chinese economy: the transition from a centrally planned economic system to a market oriented one, and from an agrarian to a modern industrialised society. China's exporters face unprecedented competition in the world market and the flow of foreign direct investment has fallen restraining the growth of the domestic economy. These new challenges have fuelled debate on the perspective of the Chinese economy and its role in the global economy.The book covers developments in the macroeconomy, productivity and reform of state-owned enterprises, issues of international trade such as the management of the exchange rate, the pattern of exports and the development of e-commerce and problems in the agricultural sector and the environment.This important and highly topical book will be warmly welcomed by economists as well as academics and researchers involved with both Asian and globalisation studies.