This book examines the major economic and political factors influencing China's exchange rate policies from the foundation of the People's Republic to the present. It considers how national economic and political priorities, international influences, domestic institutional interests and the new constraints imposed by China's rapidly globalising post-Mao economy determine exchange rate policy. The authors argue that China's exchange rate decisions were not made simply in response to external pressures, rather that they were formed on the basis of domestic assessments of domestic circumstances to serve domestic interests. They go on to illustrate that such decisions are made on the basis of what policymakers perceive are the nation's best interests, and thus constitute dynamic interplay between national priorities and the interests of institutional and non-institutional actors in the policy arena. Fulfilling the demand for further research on how China formulates exchange rate policy, this book will strongly appeal to a wide-ranging audience including: students, academics and researchers with an interest in political economy, Asian studies, international relations, comparative politics, international business and international economics and finance. Policymakers and bankers will also find much to interest them in this book.

More than a third of national output of the Chinese economy now comes from enterprises in the rural areas outside the plan. This book explains how that sector became so big in China and what it means for economic reform and structural change. The book contains precise measures of the size of the rural enterprise sector and the extent to which it has contributed to growth in China. The sources of both labour and capital used are documented, and their contributions to the growth are estimated. The implications of the growth of these enterprises are explored and the new issues which the growth of the sector has created so far are identified. Special attention is paid to problems associated with the nature of rural enterprise ownership. The analysis stresses the special conditions in China and also highlights some lessons for the process of reform in other economies.

How and why did the rural enterprise sector get so big in China? This book has the answers. That sector is owned and operated by rural communities. The book explains why these enterprises have been growing so fast, and it explores the implications of their growth.