{"product_id":"the-rise-and-fall-of-chinas-economic-miracle-1950-2030-paperback","title":"The Rise and Fall of China's Economic Miracle: 1950 - 2030 (Paperback)","description":"\u003cp class=\"MsoNormal\"\u003eAfter several decades of unprecedented growth that turned\nChina into the world's second largest economy, today China is facing major\neconomic challenges, exacerbated by rising tariffs imposed by its most\nimportant export market, the United States. How can we explain the\nextraordinary rise and sudden faltering of China's economic miracle?\u003cbr\u003e\n\u003cbr\u003e\nKent Deng takes a long-term view, charting the development of China's economy\nfrom the fourteenth century to the present day. He shows the level of growth\nreached by China's traditional economy and compares this with the economic\nperformance during Mao's rule from the 1950s to the 1970s, a period that fell\ninto a growth cul-de-sac with major economic disincentives and mass poverty. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp class=\"MsoNormal\"\u003eThis forced Mao's successor, Deng Xiaoping, to reform and\nopen up China's economy by unleashing the economic power of the market. The new\nmodel developed by Deng Xiaoping was driven by state-led import dependency in\norder to catch up with the West. Exports were a means to that end. But this\neconomic model is now facing increasing resistance from those countries on\nwhich China has relied for its growth. Since 2010, two doors have been closing\non China: the door for goods heading for China (vital for China's modernization)\nand the door for goods coming from China (vital for paying for China's\nimports).\u003cbr\u003e\n\u003cbr\u003e\nGiven the headwinds China now faces, and given that many low-income countries\nhave now modelled themselves on China and begun to supply the world market with\nlow-priced goods, Kent Deng argues that China would need an economic miracle to\nbounce back to its pre-2010 growth trajectory.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\n\n\n\n\n\n\u003c\/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eKent G. Deng\u003c\/b\u003e is Professor of Economic History at\nthe London School of Economics and Political Science.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e","brand":"JOHN WILEY \u0026 SONS SINGAPORE","offers":[{"title":"Default Title","offer_id":46098681430223,"sku":"9781509570362","price":38.1,"currency_code":"SGD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0574\/5662\/3823\/files\/download_0a1eaa38-50e0-4b71-b395-5a836f2609ea.jpg?v=1788746397","url":"https:\/\/popular.com.sg\/products\/the-rise-and-fall-of-chinas-economic-miracle-1950-2030-paperback","provider":"Popular Bookstore","version":"1.0","type":"link"}