C13. China's Economy in a Global Marketplace

China has the second largest economy in the world by standard GDP, and its rapid rise since the 1980s has transformed global markets. Despite recent turbulence in its housing and financial sectors and strains in its relations with the United States, China continues to grow faster than any other major economy and affects consumers and firms around the world. This course will provide participants with an understanding of the influences that have shaped China’s economy and that continue to guide the decisions of its leaders. Each class session will focus on a major influence and show how it is manifested in today’s events. Class content will include discussions of the role of geography, history, and culture, as well as an examination of the choice of the centrally planned socialist economic model in the 1940s and the sharp turn to a market-based economy in the 1980s. We will conclude with discussions of several prominent current topics, including the explosive growth of China’s auto industry, and the controversial Belt and Road Initiative.

Optional Readings: 

Barry Naughton, The Chinese Economy: Adaptation and Growth; Second Edition, 2018, MIT Press. ISBN 9780262534796

Justin Yifu Lin, et al., The China Miracle: Development Strategy and Economic Reform, Revised Edition, 2003

China Daily, available online at www.chinadaily.com.cn

Instructor: Tom Gottschang is a Professor Emeritus of Economics at the College of the Holy Cross, where he taught courses on economics and the economy of China for over 40 years. He has lived and worked in China and earned his Ph.D. at the University of Michigan.