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China in the Global Economic Structural Transformation and Upgrading

In: Demystifying the World Economic Development

Author

Listed:
  • Justin Yifu Lin

    (Peking University)

  • Caihui Fu

    (Peking University)

Abstract

The chapters thus far have presented China’s pivotal role in the global economic structural transformation, elucidating instances such as the North–South cooperation with the United States and the South-South cooperation with Africa, discussed in Chap. 7 , and China’s participation in the global economy, exploring lessons learned from missed opportunities before reform and opening-up and the subsequent leverage of opportunities presented by globalization for development, discussed in Chap. 6 . In 1953, China held a 1.5% share in the global trade volume, a figure that decreased to 0.6% by 1977. In 1960, the proportion of China’s goods and service imports and exports was 4.43% and 4.31%, respectively, of its GDP. However, by 1977, these proportions remained relatively stable, hovering around 4% (in particular, 4.09% and 4.3%, respectively).

Suggested Citation

  • Justin Yifu Lin & Caihui Fu, 2024. "China in the Global Economic Structural Transformation and Upgrading," Contributions to Economics, in: Demystifying the World Economic Development, chapter 0, pages 505-593, Springer.
    • Handle: RePEc:spr:conchp:978-981-97-5632-2_9
    DOI: 10.1007/978-981-97-5632-2_9
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