He Fan, Professor of Economics, HSBC School of Business, Beijing, Director of Maritime Silk Road Research Center
Zhu He, Postdoctoral Scholar, Peking University & Assistant Director of Silk Road Research Center
Li Chaohui, Research Assistant, Haitian Silk Road Research Center, HSBC School of Business, Peking University
This article was originally published in the Business Standard as ‘China’s version of globalisation’, 14 October 2017. This is part of a series by Chinese economists facilitated by the ICS. The original text in Chinese follows below the English version.
In the past 40 years, China has achieved sustained high rate of economic growth after the implementation of the policy of reforms and opening up. This has generated worldwide attention for the “Chinese miracle.” In 1980, China’s exports amounted to only 5.9% of GDP and its foreign investment abroad was only just over US$1.6 billion; by 2013, the latter figure had increased to US$290 billion.
China’s integration into the world economy essentially began in the 1990s. Continue reading “China and Globalization: Time for New Beginnings?”