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The aim of this course is to offer a broad coverage of key issues in economy and business in contemporary China. It would be particularly appropriate for students who have not studied economic issues in any depth before.

The 1978 reform of China has produced a fastest growing economy in the world with an astonishing GDP growth rate annually.  Since 2004, China has become the second largest economy of the world after USA. In addition, it carries the world’s largest foreign currency reserves.

Students will acquire a comprehensive understanding of Chinese business and economy in the light of its recent successes and the challenges that China may face in sustaining rapid economic growth. Understanding Chinese business and economic development requires a basic appreciation of her past. This course draws on research in history, foreign trades, and political, economic, socio-cultural, technological (PEST) perspectives.

Students will apply fundamental economic principles to illustrate a series of plausible of causes and effects brought about the advances of ‘China Inc.’ in relation to her impacts to the world economy and globalization. Finally, an emphasis is placed on encouraging students to adopt a common-sense approach in examining contentious issues about China’s ideology and technological development.

Introduction to the Chinese business and economy 

Economic development of China in perspective                    

China’s rise and fall (pre-1949): The Needham puzzle      

Failure of Socialist revolution and the factor endowment structure      

China and the world economy – International trade and foreign direct investment 

National strategy on economic growth – Comparative Advantages Defying (CAD) v Comparative Advantages Following (CAF) 

Looking to the future: China’s fundamental institutions and reform 

“State Capitalism” and the reform of Chinese financial system 

Urban Economy: Ownership and corporate governance (CG) 

Urban Economy: Technology and industrial policy 

Sustainability and knowledge-based economy 

Macroeconomic Policy: Instruments and outcomes