China's Reforms At 30: Challenges and Prospects (Series on by Dali L. Yang, Litao Zhao

By Dali L. Yang, Litao Zhao

This e-book comprises papers provided on the overseas convention on "China: the subsequent Decade", prepared by way of the East Asian Institute on the nationwide college of Singapore in 2007 to commemorate the Institute's tenth anniversary. With 8 papers masking China's financial, social and political improvement, this quantity deals a balanced but in-depth evaluation of the demanding situations dealing with China within the subsequent decade. that includes contributions from across the world popular students, this well timed quantity analyzes key facets of China's reforms and improvement, corresponding to the monetary reform, overseas exchange, management succession, social protests, healthiness care reform and ethnic relationships. it really is appropriate for China students in addition to complex undergraduate and graduate scholars attracted to China's polity, financial system and society. Contents: find out how to maintain China's progress Miracle? (E S Prasad); China's Mounting exterior Balances: exchange, international funding and nearby creation Sharing (S Y Tong & Y Zheng); China's Protest Wave: Political danger or becoming Pains? (A G Walder); The seventeenth get together Congress and the CCP's altering Elite Politics (You J); Diminishing Demographic Dividends: Implications for China's progress Sustainability (D Lu); in the direction of common insurance: China's New Healthcare coverage Reforms (E Gu); a brand new standpoint in Guiding Ethnic kin within the twenty first Century -- "De-politicization" of Ethnicity in China (R Ma); Is There an Asian worth? well known figuring out of Democracy in Asia (T-J Shi)

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Qxd 11/25/2008 8:28 PM Page 17 How to Sustain China’s Growth Miracle? 17 Chinese banks have large exposures to foreign currency assets (and/or external liabilities denominated in renminbi) that would hurt their balance sheets greatly if the renminbi were to appreciate in the short run. A more serious concern is that outflows of capital could starve the domestic banking system of liquidity by allowing domestic savers to take their money abroad. This is where the difference between exchange rate flexibility and capital account liberalization becomes especially important.

Should such a movement come to pass, however, it is less likely than in 1989 that the decision to use force would be made once again. qxd 11/25/2008 8:29 PM Page 47 China’s Protest Wave 47 country’s political arrangements and, undoubtedly, a period of serious political instability. SOURCES OF REGIME SUPPORT What is the primary social basis of the regime’s support? It is not some identifiable occupational group, but the membership of the Chinese Communist Party and grassroots government functionaries.

394–421; Peter Ho,“Contesting Rural Spaces: Land Disputes, Customary Tenure and the State”, pp. 113–135 in ibid. 6 Jun Jing,“Environmental Protests in Rural China”, pp. , edited by Elizabeth J. Perry and Mark Selden, London and New York: Routledge, 2005; and Yongshun Cai, Collective Resistance in China: How the Weak Succeeded, forthcoming, Chapter 7. qxd 44 11/25/2008 8:29 PM Page 44 Andrew G. Walder A third category involves urban residents and is connected to rapid commercial real-estate development.

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