China's Opening up after 40 Years: Standing at a Historic Turning Point

China's Opening up after 40 Years: Standing at a Historic Turning Point This paper comprehensively reviews China's openness since 1978 from three aspects: trade, foreign investment and global production sharing. We point out that the economic development of China is now standing at a historic turning point. Specifically, economic changes in China are discussed from four dimensions: (i) from China being a world assembly line to a world manufacturing powerhouse; (ii) from China being a world capital receiver to a world investor; (iii) from China being a world factory to a world market; and (iv) from the situation of “made in China” to “innovated in China.” At the same time, the global economic system has also reached a turning point. A “North America–Europe–Asia” tri‐polar system has formed, in which the USA, Germany and China, respectively, serve as the regional core economies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png China and World Economy Wiley

China's Opening up after 40 Years: Standing at a Historic Turning Point

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Publisher
Wiley
Copyright
© 2018 Institute of World Economics and Politics, Chinese Academy of Social Sciences
ISSN
1671-2234
eISSN
1749-124X
D.O.I.
10.1111/cwe.12235
Publisher site
See Article on Publisher Site

Abstract

This paper comprehensively reviews China's openness since 1978 from three aspects: trade, foreign investment and global production sharing. We point out that the economic development of China is now standing at a historic turning point. Specifically, economic changes in China are discussed from four dimensions: (i) from China being a world assembly line to a world manufacturing powerhouse; (ii) from China being a world capital receiver to a world investor; (iii) from China being a world factory to a world market; and (iv) from the situation of “made in China” to “innovated in China.” At the same time, the global economic system has also reached a turning point. A “North America–Europe–Asia” tri‐polar system has formed, in which the USA, Germany and China, respectively, serve as the regional core economies.

Journal

China and World EconomyWiley

Published: Jan 1, 2018

Keywords: ; ; ; ; ; ; ;

References

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