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A Chinese Renaissance in an Unremittingly Integrating Global Economy

In: The Chinese Economic Renaissance

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  • Dilip K. Das

Abstract

The role of China in the global economy has radically increased since 1978. Its emergence as a powerhouse economy is unprecedented in its implications for the global economy. During the early reform phase, China’s resolve to globalize appeared feeble. However, with the passage of time the political leadership recognized the invaluable contribution that globalization could make to their economy. Realization of China’s impact over the global economy also dawned on them. This self-reinforcing two-way process is likely to continue in the foreseeable future. Toward the end of 2007, after the post-subprime mortgage crisis in the US economy, it seemed increasingly evident that the global economy was on the cusp of a defining historic transformation; economic power was in the process of making a secular shift from the industrial economies to China and the major emerging-market economies (EMEs).

Suggested Citation

  • Dilip K. Das, 2008. "A Chinese Renaissance in an Unremittingly Integrating Global Economy," Palgrave Macmillan Books, in: The Chinese Economic Renaissance, chapter 3, pages 125-159, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22744-6_3
    DOI: 10.1057/9780230227446_3
    as

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