東アジア金融危機と中国(第9セッション 東アジア経済,20世紀資本主義-歴史と方法の再検討-,創立五十周年記念大会報告集)
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概要
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China has, following the pattern of NIEs, implemented policies of export-promotion and acquisition of foreign capitals. Chinese economy has, therefore, attained the sustainable growth in recent years. In this sense, China' s economic development can be considered as an Asian NIEs model. However, most East Asian countries have since the summer of 1997 been visited by financial crises due to the decline of values in their currencies. In contrast, China was able to maintain stability in its currency values as well as in its overall economic operation. This is due to the improved conditions of the fundamentals in the 1990s as well as the specific nature of China's economic system which is supposed to be in a transitional stage from a planned economy to a market economy. Although the Asian financial crisis did not reach China, one can not deny its impact on China. Chinese government has insisted on the policy of not to devalue the Renminbi and responding to the crisis rather positively. China's policy has been viewed as an important contribution to the stabilization of the Chinese as well as the whole Asian economy. Nevertheless, the dilemma China faces in adopting such a policy will soon surface. With its huge population and the large scale of its economy China's reliance on foreign countries should be much less than other small nations. In light of the recent Asian financial crisis, it is suggested that China should place priority on internal factors, rather than relying on external sources, in its future economic development.
- 政治経済学・経済史学会の論文
- 1999-09-30
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