The relation between China and the United States is arguably the most important bilateral relation in the world today. The U.S. and China are respectively the largest and the second largest economies
An indispensable reference to the development of the Chinese economy—past, present, and future.—DALE W. JORGENSON, Samuel W. Morris University Professor, Harvard University Since China undertook economic reform and opened its economy to the world in the late 1970s, its economy has been growing at an average annual rate of over 9 percent for more than four decades. No other economy in recorded history has grown at such a high rate and for such a long period as China has done. The questions that naturally arise are: Was the Chinese economy a miracle? Or was it a mere bubble? Will the Chinese economy begin to stagnate like the Japanese economy did in the 1990s, and perhaps decline? Will it be able to escape the “middle-income trap”? If it is not a miracle, can the Chinese development experience be replicated elsewhere? This book provides a comprehensive and detailed discussion of the remarkable growth of the Chinese economy over the past decades, by scrutinising the sources of e
The essays in this volume provide a comprehensive view of applications of the cost ofcapital. The cost of capital is the key concept in the analysis of taxation of business income. Itis also critical
