1. Inicio
  2. Atrás
Título: Sustaining China’s Rural Development under Global Economic Instability: Key Policy Issues
Autores: Kwong, Charles C L
Fecha: 2011-07-26
Publicador: Asia Journal of Global Studies
Fuente:
Tipo: info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Tema: Political Economy
Descripción: China's exports shrank by 16% in 2009 during the global financial crisis originating in the US. The incomplete recovery of the American economy in 2010 was followed by a debt crisis in Europe, prompting a tightening of fiscal expenditures by European governments that led to tapering economic growth in Europe and a depreciating euro. China's exports will be adversely affected by these recent developments as Europe has been China's largest export market. In light of continued financial instability in the global economy, China's central leaders have tried to emphasize more domestic consumption as part of a new growth strategy. This paper argues that the success of this strategy rests not only on urban consumption, but also on its rural counterpart. In recent years, increased budget expenditures in the countryside on infrastructure development, compulsory education, and medical services have lightened the burdens of rural dwellers, but the rural-urban gap, in terms of income and consumption levels, remains substantial. This paper posits that a clear delineation and enforcement of property rights and prompt development of rural financial markets is the key to sustaining China's rural economic growth, as it has direct bearing on the government's recent efforts to promote domestic demand to cushion the economy from global financial shocks.
Idioma: Inglés