China in Asia |
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| Institution: | 1. University of Alberta Business School, Edmonton, AB T6E 2T9, Canada;2. National University of Singapore Business School, Biz 2 Building Level 6, 1 Business Link, 117592, Singapore;1. Department of Business Management, National United University, Miaoli, Taiwan, ROC;2. Department of Information Management, National Kaohsiung University of Applied Sciences, Kaohsiung, Taiwan, ROC;3. Department of Marketing and Distribution Management, National Kaohsiung First University of Science and Technology, Kaohsiung, Taiwan, ROC;4. Department of Marketing Management, Takming University of Science and Technology, Taipei, Taiwan, ROC;1. Research School of Finance, Actuarial Studies and Statistics, Australian National University, Level 4 RSFAS, CBE Building 26C, Kingsley Street, Acton, ACT 2601, Australia;2. Sloan School of Management, Massachusetts Institute of Technology, 50 Memorial Drive, E52-551, Cambridge, MA 02142-1347, United States;1. Nanjing Agricultural University, College of Economics and Management, 210095 Nanjing, Jiangsu, China;2. Cornell University, Department of Applied Economics and Management, 14853 Ithaca, NY, USA;3. University of Kentucky, Department of Agricultural Economics, 40546 Lexington, KY, USA |
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| Abstract: | China's surge to become the world's second largest economy and largest trading nation contributes greatly to Asia becoming the world's largest economic system. China is the nexus of intra-Asian trade and direct investment flows. China's rapid growth in the recent decade relied on a state-directed investment model, akin to the state-run Big Push growth model. As in most big push experiences, intermediate term success leads to economic stresses. China's leaders can no longer ignore obvious signs of rising malinvestment, corporate debts, environmental degradation, and social disparity, all amid an aging population and tightening resource constraints. China's economic slowdown also forces economic adjustment upon its neighbors, rendered more difficult by China's policy ambiguity and volatility. Sill, China can be a positive long term influence in Asia, especially as it carries its market reforms to completion. |
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