4871. The Chinese Economy: WTO, Trade, and U.S.-China Relations
- Author:
- Barry Naughton
- Publication Date:
- 01-2003
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- The Chinese economy is showing extraordinary dynamism, which partly reflects the early impact of the commitments in China's WTO accession agreement to liberalize the economy. Incoming foreign investment has increased, and trade has grown rapidly. At the same time, China is grappling with serious economic problems that may worsen in the near future. The most difficult problem in crafting China policy is deciding how to respond flexibly to this extraordinary mixture of dynamism and fragility. Rapid growth gives the Chinese economy remarkable resilience; but deep-seated institutional weakness and stubborn problems of poverty and unemployment create dangers of social and economic disruption. An effective U.S. China policy must navigate between the extremes of over-estimating China's current economic strength and under-estimating her potential.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- United States, China, and Asia