Volume 4, Issue 5-1, September 2015, Page: 8-19
China’s Path to Sustainable, Stable and Rapid Economic Development: From the Largest to the Strongest Manufacturing Country
Yueyun (Bill) Chen, Department of Business Administration, University of the West, Los Angeles, USA
Received: Jun. 29, 2015;       Accepted: Jun. 30, 2015;       Published: Aug. 13, 2015
DOI: 10.11648/j.jwer.s.2015040501.12      View  4626      Downloads  116
The global manufacturing trade comprises 70% of the total trade, and the manufacturing export from China comprises 93% of the country’s total export. This paper explores the importance of continuously maintaining a strong manufacturing industry for China’s future economic development. It emphasizes that in order to be a world economic leader, China must first have the strongest manufacturing industry; it then discusses the ways to achieve that objective
Economic Structure, Economic Growth, Globalization, China’s Economy
To cite this article
Yueyun (Bill) Chen, China’s Path to Sustainable, Stable and Rapid Economic Development: From the Largest to the Strongest Manufacturing Country, Journal of World Economic Research. Special Issue: The Globalization and Economic Structure Changes. Vol. 4, No. 5-1, 2015, pp. 8-19. doi: 10.11648/j.jwer.s.2015040501.12
Acemoglu, D, Johnson, S, Robinson, JA, and Aghion, P. (2005), “Institutions as a Fundamental Cause of Long-run Growth,” Handbook of Economic Growth, Vol. 1A, 22: 385-472. ELSEVIER SCIENCE BV.
Ahlstrom, D., Bruton, G., and Yeh, K. (2007), "Venture Capital in China: Past, Present, and Future", Asia Pacific Journal of Management, Vol. 24, No.3, pp.247-268.
Allen, Franklin, Qian, Meijun, and Qian, Jun. (2008), China's Financial System: Past, Present, and Future, in China's Great Economic Transformation, New York, Cambridge: Cambridge University Press.
Barro, Robert (1997), Determinants of Economic Growth. Cambridge, MA: MIT Press Blumstein C, Kreig B, Schipper L, and York C. (1980), “Overcoming Social and Institutional Barriers to Energy Efficiency,” Energy 5: 355–72.
Bloom, Nicholas, Paul M. Romer, Stephen J. Terry, and John Van Reenen (2013), "A Trapped-Factors Model of Innovation." American Economic Review, 103(3): 208-13
Bohi D, Toman M. (1996), Economics of Energy Security. Norwell, MA: Kluwer Academic Publishers.
Buckley, P., Clegg, L., Cross, A., Liu, X., Voss, and H., Zheng, P. (2007), "The Determinants of Chinese Outward Foreign Direct Investment", Journal of International Business Studies, Vol. 38 pp.499-518.
Brandt, Loren, and Rawski, Thomas G. (2008), China's Great Economic Transformation, in China's Great Economic Transformation, Cambridge: Cambridge University Press.
Chan, K.W.(2007), “Fundamentals of China’s Urbanization and Policy,” University of Washington; Working paper.
Chang, G.H.(2002), “ Test of the Urbanization Lag of China and its Cost in Employment,” Working Paper, Department of Economics, The University of Toledo.
Chang, G.H., and Brada, J.C.(2006), “The Paradox of China’s Growing Under-urbanization,” Economic System, 30(1), 24–40.
Chen, Yueyun (2011), “ Why There are Less China-made-Products in US Supermarkets?” Yazhou Zhoukan (HK Asian Weekly), June 11th.
Coase, Ronald (1937),”The Nature of the Firm,” Economica 4(4): 386–405.
Levine, Ross (1999), “Law, Finance, and Economic Growth,” Journal of Financial Intermediation, 8(1/2): 36–67.
Lardy, Nicholas and Branstetter, Lee (2008), China's embrace of globalization; in China's great economic transformation, New York, Cambridge: Cambridge University Press.
Cai, Fang (2010), "Labor Market Development and Expansion of Rural and Urban Employment." In Transforming the Chinese Economy, edited by Fang Cai, 85-114. Leiden and Boston: Brill.
Chow, G. C. (2002), China’s Economic Transformation, Wiley Publishing.
Chow, G. C. (2006), “Globalization and China’s Economic Development,” Pacific Economic Review, 11: 271–285.
Contractor, F.J. (2012), "7 reasons to Expect US Manufacturing Resurgence", Yale Global, August.
Duysters, G., Jacob, J., Lemmens, C., and Yu, J. (2009), "Internationalization and Technological Catching up of Emerging Multinationals: a Comparative Case Study of China's Haier Group", Industrial and Corporate Change, Vol. 18 No.2, pp.325-349.
Fuller, Brandon and Romer, Paul (2014), “Urbanization as Opportunity,” Working Paper; Marron Institute: On Cities and the Urban Environment, New York University.
Gallagher, Kevin and Robert Porzecanski (2008), “Climbing up the Technology Ladder? High-Technology Exports in China and Latin America,” Center for Latin America Studies, UC Berkeley, Working paper, No. 20.
Golove W, Eto J. (1996), Market Barriers to Energy Efficiency: A Critical Reappraisal of the Rationale for Public Policies to Promote Energy Efficiency. Lawrence Berkeley National Laboratory, LBL-38059, UC-1322, Berkeley, CA.
Howarth R, and Andersson B. (1993),“Market Barriers to Energy Efficiency,” Energy Economics 15:262–72.
Huang, Yasheng (2010), “Debating China’s Economic Growth: The Beijing Consensus or the Washington Consensus,” Academy of Management Perspective, pp31-48.
Lardy, N. (1998), China's Unfinished Economic Revolution, Brookings Institution Press, Washington, DC.
Li, Lanqing (2009); Breaking Through: The Birth of China's Opening-Up Policy. Oxford and New York: Oxford University Press.
Lin, Justin Yifu, Cai, Fang and Li, Zhou (2003); The China Miracle: Development Strategy and Economic Reform; Hong Kong: Chinese University Press.
Lin, Justin Yifu(2012), The Quest for Prosperity: How Developing Countries Can Take Off, Princeton: Princeton University Press.
Lin, Justin Yifu( 2012), New Structural Economics: A Framework for Rethinking Development Policy, Washington, World Bank.
Demystifying the Chinese Economy, Cambridge University Press, 2012, English edition Li, S.M.(2005), “China’s Changing Urban Space: Review and Synthesis,” Issues and Studies, 41(4), 67–106.
Logan, J.R.(Ed.) (2002). The new Chinese City: Globalization and Market Reform. Oxford, UK: Blackwell Publishers.
Lucas, Robert (1990), "Why doesn't Capital Flow from Rich to Poor Countries?" American Economic Review 80 (2): 92–96.
Metcalf GE. (1994), “ Economics and Rational Conservation Policy,” Energy Policy 22: 819–25
Mark Purdy (2013), “China’s Economy in Six Charts” Harvard Business Review, November 29.
Ricardo, David(1817), On the Principles of Political Economy and Taxation (1 ed.), London. McKinsey Global Institute (2012), “Manufacturing the Future: The Next Era of Global Growth and Innovation,” McKinsey & Company. National Bureau of Statistics of China, various years.
North, Douglass (1990), Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press.
Perkins, Dwight H and Rawski, Thomas G (2008), “Forecasting China's Economic Growth to 2025,” The China Business Review 35.6 : 34-39,45.
Putterman, L.(1996), “ The Role of Ownership and Property Rights in China’s Economic Transition,” In A.G. Walder(Ed.), China’s Transitional Economy (pp. 85–102).Oxford: Oxford University Press.
Ramo, J C. (2004), Beijing Consensus, Foreign Policy Centre, London.
Romer, David (2011). "The Solow Growth Model". Advanced Macroeconomics (Fourth ed.). New York: McGraw-Hill. pp. 6–48.
Romer, Paul (2010), “Which Parts of Globalization Matter for Catch-Up Growth?” American Economic Review, Vol. 100, No. 2, 94-98.
Romer, Paul (1996), “Why, Indeed, in America? Theory, History, and the Origins of Modern Economic Growth,” American Economic Review, Vol. 86. No. 2, 202-206.
Romer, Paul (1989), “Capital Accumulation in the Theory of Long Run Growth,” Modern Business Cycle Theory, Robert J. Barro (ed.), Cambridge: Harvard University Press.
Romer, Paul (1994), “The Origins of Endogenous Growth,” Journal of Economic Perspectives 8, 3-22.
Romer, Paul (1991), “International Trade with Endogenous Technological Change” (joint with Luis Rivera-Batiz), European Economic Review 35(4), 971-1004.
Romer, Paul (1990), “Endogenous Technological Change,” Journal of Political Economy 98, S71-S102.
Sit, V.F.S., and Yang,C.(1997), “Foreign-investment-induced Exo-urbanization in the Pearl River Delta, China,” Urban Studies, 34(4), 647–677.
Sutherland R. J. (1996), “The Economics of Energy Conservation Policy,” Energy Policy 24: 361–70.
Solow, Robert M. (1956), "A Contribution to the Theory of Economic Growth". Quarterly Journal of Economics 70 (1): 65–94.
Solow, Robert M. (1957), "Technical Change and the Aggregate Production Function". Review of Economics and Statistics 39 (3): 312–320.
Swan, Trevor W. (1956), "Economic Growth and Capital Accumulation". Economic Record 32 (2): 334–361.
Tyers, Rod and Jane Golley (2010), “China’s Growth to 2030: The Roles of Demographic Change and Financial Reform”, Review of Development Economics, 14 (3), 592-610.
Xu, Chenggang (2011), “The Fundamental Institutions of China's Reforms and Development,” Journal of Economic Literature 49.4 : 1076-1151.
Zhu, Xiaodong (2012); “Understanding China's Growth: Past, Present, and Future,” The Journal of Economic Perspectives 26.4 : 103-124.
Contractor, Farok (2013), “Punching above their weigh: The sources of competitive advantage for emerging market multinationals,” Int’ Journal of Emerging Markets; Vo. 8, No. 4.pp 304-328.
UNCTAD (2012), World Investment Report 2012, United Nations, Geneva,
Walton H. Hamilton (1919), "The Institutional Approach to Economic Theory," American Economic Review, 9(1), Supplement, pp. 309-318.
Wei, D.Y., & Leung, C.K.(2005). “Development zones, foreign investment, and global city formation in Shanghai,” Growth and Change, 36(1), 16–40.
Williamson, Oliver. 1975. Markets and Hierarchies: Analysis and Antitrust Implications. The Free Press, New York.
World Economic Forum (2012), “ The Future of Manufacturing Report: Manufacturing for Growth Strategies for Driving Growth and Employment,” World Economic Forum.
Zhang, K.H.(2002), “What Explains China’s Rising Urbanization in the Reform Era?” Urban Studies, 39(12), 2301–2315.
Zhao, S.X.B., Chan, R.C.K., and Sit, K.T.O.(2003), Globalization and the Dominance of Large Cities in Contemporary China. Cities, 20(4), 265–278.
Zhao, S.X.B., and Zhang, L.(2007), “The Foreign Direct Investment and the Formation of Global City-regions in China. Regional Studies, 41(7), 979–994.
Browse journals by subject