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China and Korea in the world economy : Common opportunities and challenges, ten years after the Asian financial crises

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  • China and Korea in the world economy
  • Li, David Daokui; Cheong, Youngrok
  • Korea Institute for International Economic Policy
Contents

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Title China and Korea in the world economy
Similar Titles
Sub Title

Common opportunities and challenges, ten years after the Asian financial crises

Material Type Reports
Author(English)

Li, David Daokui; Cheong, Youngrok

Publisher

Seoul:Korea Institute for International Economic Policy

Date 2008
Series Title; No Korea Institute for International Economic Policy. Conference proceedings / 08-03
ISBN 9788932230511; 893223051X
Pages 142
Subject Country China(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding EWC

Abstract

In Chapter I, Professor David Daokui Li at the Tsinghua University reviews the way in which China has coped with the Asian Financial Crisis in late 1990s and subsequently he evaluates that the current trend of globalization has still created generally unfavorable circumstances for developing countries. He concludes that both developed nations and developing countries collectively have to cooperate in improving the current international financial order and he finally emphasizes China's more positive role, as a swiftly emerging developing country, to build a new, more rational international economic order.
One of the most frequently asked questions about China is whether it can continue its high economic growth and will substitute the US in around 2020 as some international economic institutions predict. In Chapter II, to answer this question, Professor Youngrok Cheong at the Seoul National University identifies two most important China-specific factors, which most other countries do not have: the country's life cycle in the long history of China and its huge country size. Based on the innovative analysis of these two factors, his prediction is that China will sustain its speedy economic growth longer than what is generally expected. (The rest omitted.)