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The subject analyses the dynamic re-emergence of China as a world economic power since the late 1970s, when China embarked on an extensive program of economic reform. We begin with an exploration of the early modern economic system that the People's Republic of China inherited in 1949. Next we explore the development strategies of the period under Mao Zedong. The primary focus of the subject is on the new economy that emerged under Deng Xiaoping from the 1980s, and the increasing complexity of economic reform as China joined the World Trade Organization in late 2001. We examine in detail such topics as changes in agriculture and rural living standards, the role of foreign direct investment and the multinational enterprise, the reform of state owned enterprises and corporate governance, and the emergence of a vibrant private sector and an increasingly large consumer market. Students will be able to apply the skills acquired to the analysis of not only China, but also other emerging markets or transitional economies in the contemporary global economy.
Intended learning outcomes
On successful completion of this subject, you should be able to:
- Describe the historical origins of the organisation of the Chinese business and economic environment, including the competing explanations for the character of Chinese economic growth before the founding of the People’s Republic of China in 1949 and during the Maoist transformation of China (1950-78);
- Apply the insights from political economy and international business to the Chinese business environment;
- Explain the post-1978 economic reform in China and China’s integration with Hong Kong, Taiwan and the world trading system, including the trends in foreign direct investment and the strategies of multinational enterprises operating in the China;
- Collect and analyse data relevant to understanding the China economy, especially the opportunities for international business to develop consumer markets in China;
- Analyse and discuss critically the constraints facing the Chinese economy, in particular the reform of the financial sector and state owned enterprises, and compliance with international standards in business and trade practices, and labour and the environment.
High level of development: oral communication; written communication; application of theory to practice; ; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness of alternative ideas.
Moderate level of development: collaborative learning; problem solving; team work
Last updated: 20 February 2024