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China Engaged (Chinese)
World Bank
Price: $ 22

This book is directly available from the publisher
CFEPH China Financial & Economic Publishing House

CFEPH China Financial & Economic Publishing House
Rm. 916, Xinzhi Mansion, No. Jia 28, Fucheng Rd.
Haidian District, Beijing 100038

China is in the throes of two transitions: from a command economy to a market-based one and from a rural, agricultural society to an urban, industrial one. So far, both transitions have been spectacularly successful. China is the fastest-growing economy in the world, with per capita incomes more than quadrupling since 1978, achieving in two generations what took other countries centuries. Although swift growth and structural change have resolved many problems, they also have created new challenges: employment insecurity, growing inequality, stubborn poverty, mounting environmental pressures, rising costs of food self-sufficiency, and periods of macroeconomic instability stemming from incomplete reforms. Unmet, these challenges could undermine the sustainability of growth, and China?s promise could fade. China 2020, a seven-volume set, examines China's recent history, where it is today, and the path it should follow during the first two decades of the 21st century. The volume in the set entitled, "China Engaged: Integration with the Global Economy" recognizes China's growing importance as a key player in the global economy. Its share in world trade will more than triple by 2020; China is expected to become the second-largest trading nation, after the United States. The report warns, however, that to realize such benefits, China and its major trading partners will need to mount efforts to further liberalize their trade and investment relationships within the context of a rules-based multilateral system, including China's accession to the World Trade Organization.

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