Agriculture, Land, and the Rural Economy
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
Why does agriculture matter?
It may seem odd to begin our discussion of a great industrial economy with agriculture. In China today, agriculture accounts for only 8 percent of GDP. ...
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The Case for Free Trade
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
Why do economists support free trade?
There is free trade when residents have the same freedom to buy and sell abroad as they do at home. That does not mean that individuals can ...
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Case Studies of Protection for Manufacturing Industries
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
Why look at manufacturing protection?
In Chapter 4, it was seen that free trade would maximize the goods and services available in the nation’s economy and with enough left over ...
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Changing the Growth Model
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
Why does China need to change its growth model?
Since reforms began in 1979, China has become one of the world’s greatest economic success stories. At no point during those decades ...
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China
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
How did China change?
In 1982, China was an extremely impoverished developing country with such sluggish growth that it is arguable whether living standards had risen at all in ...
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China and the World: Is Conflict Inevitable?
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
For most of this book, we have considered China mainly on its own terms—as a large and interesting story of national development. But China’s rise also has important international ...
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China’s Political Economy
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
What is China’s political system?
Understanding China’s unique and resilient governance system is essential for making sense of the country’s economic past, present, and future. We ...
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Demographics and the Labor Market
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
What is the “demographic dividend”?
The “demographic dividend” refers to a period during which the proportion of nonworking, dependent people in a population falls substantially. ...
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Developing Countries
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
Are developing countries different?
Prior to the Second World War, there were advanced countries, there were planned economies, including the Soviet Union, and there were very ...
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Do Trade Deficits Matter?
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
President Trump has repeatedly insisted that each country’s bilateral trade deficit with the US is an indication of unfair trade practices. Trump has made the reduction of bilateral ...
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Does Trade Hurt American Jobs?
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
The temptation to use protection to increase employment is understandable, but consideration of the economics makes it doubtful whether protection will increase employment, even in an ...
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The Emerging Consumer Economy
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
Is China’s growth “unbalanced”? How much does it matter?
China from 1980 until a few years ago has been mainly an investment-driven economy. Growth has been powered by capital ...
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Energy and the Environment
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
In the preceding chapters, we have examined three of the systems that support China’s economic structure: the financial, fiscal, and enterprise systems. In this chapter, we will look at the ...
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The Enterprise System
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
Which are more important: state-owned enterprises or private firms?
One of the most contentious features of China’s economy is its ownership. Two narratives are common. One is that ...
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The EU and Brexit
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
How was the EU formed?
The European Union (EU) started out as the European Coal and Steel Community (ECSC) with six member nations (Belgium, France, Germany, Italy, Luxembourg, ...
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The Financial System
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
What role do China’s banks play in financing growth?
China has a bank-dominated financial system. About 70 percent of corporate finance is provided either by banks or by other ...
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Foreign Trade in World History
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
Trade policy has long been contentious and stirred strong emotions. In the US, the most famous early controversy was the Boston Tea Party, in which the Americans objected to the tax ...
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The Future of International Trade
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
There is no doubt that intensifying trade links among the countries of the world have played an important, and largely beneficial, role in the evolution of the world economy. The open ...
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The GATT/WTO
Anne O. Krueger
in International Trade: What Everyone Needs to Know®
Why have the World Trade Organization?
There must be rules governing international trading transactions and a mechanism for enforcing them in the absence of an international ...
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The Government Finance System
Arthur R. Kroeber
in China's Economy: What Everyone Needs to Know® (2 ed.)
Why does the fiscal system matter?
There are two reasons for understanding China’s fiscal system. The first is about power relations. In a country as large and diverse as China, ...
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