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Erschienen in:
2016 | OriginalPaper | Buchkapitel
11. China’s Economic Miracle: Will It Become the Next Bubble?
verfasst von : Nicholas P. Sargen
Erschienen in: Global Shocks
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Abstract
Not all shocks are bad. One of the most significant developments since the 1980s has been the emergence of China as an economic power. Following Mao Tse Teng’s death, China embarked on a program of economic reforms in the late 1970s under the leadership of Deng Xiaoping that transformed it from a backward country into the world’s second-largest economy today. Over that period, China grew at a compound rate of 9.5 % annually, and it has amassed record external surpluses in the past decade that turned it into the world’s largest capital exporter. As such, China’s economy now has considerable influence not only on other Pacific Rim economies but those in other parts of the world as well.