China and Globalisation

Since the initiation of economic reforms in 1978 China has become one of the world’s fastest growing economies and has emerged as a global economic and trade power. What are the implications for the world economy, in particular for the distribution of income and wealth? How will China contribute to shaping not only the globalised world economy but also the institutions and policies of global governance?The authors wish to thank the participants of the international seminar in Shanghai on 18-20 March 2005 for their valuable contributions, which have been incorporated into this paper.