China in the Wake of Asia's Financial Crisis - 9781138607453

Taylor & Francis

This book examines China\u2019s response to the Asian financial crisis of 1997, both in its immediate aftermath and in the years since. The crisis caused turmoil throughout Asia\u2019s economies, and precipitated wholesale reform of economic and financial policies and institutions across the region. As one of Asia\u2019s largest economies, China responded to the crisis more successfully than many others, avoiding devaluation of its currency, whilst undertaking financial reform, restructuring state-owned enterprises, rural development, and social security systems. This book considers all of these issues, showing how the lessons drawn from the crisis have helped shape China\u2019s policies of liberalisation and market-orientated reform, including its attitude towards globalisation and the outside world in general. Based on research conducted by the China Development Research Foundation, one of China\u2019s leading think-tanks, this book includes contributions from senior policy makers .