Models of the Chinese Economy is an authoritative and comprehensive book which will enable readers to gain a more thorough understanding of this important economy. The authors focus on economic modelling of the current Chinese economy for forecasting and policy simulation purposes. Dynamic computable general equilibrium, gravity, models of exchange rate determination and a VAR model are employed with which to provide both medium- and long-term forecasts of China's economic growth and structural change. All the models have been specially designed to capture the institutional features of the Chinese economy and the authors also emphasise the opening of the economy and relations with other countries. The impact on the Chinese economy of such factors as the flow of foreign direct investments, trade liberalisations, tariff cuts and other external shocks are addressed and analysed through model simulations. This book will be welcomed by international agencies interested in the economic development of China, China analysts, academics, and graduate students.

China has experienced dramatic growth and development in the past two decades of economic reform. Yet, since the Asian crisis, the growth rate has declined from its historically high levels and deep-rooted problems such as unemployment, income inequality, surplus rural labour and non-performing debt in state enterprises have resurfaced - all with the potential to undermine the sustainability of growth. China in the Global Economy focuses on the theme of twin transitions occurring in the Chinese economy: the transition from a centrally planned economic system to a market oriented one, and from an agrarian to a modern industrialised society. China's exporters face unprecedented competition in the world market and the flow of foreign direct investment has fallen restraining the growth of the domestic economy. These new challenges have fuelled debate on the perspective of the Chinese economy and its role in the global economy. The book covers developments in the macroeconomy, productivity and reform of state-owned enterprises, issues of international trade such as the management of the exchange rate, the pattern of exports and the development of e-commerce and problems in the agricultural sector and the environment. This important and highly topical book will be warmly welcomed by economists as well as academics and researchers involved with both Asian and globalisation studies.