`The World`s Factory`: Can China sustain its Status amid the COVID-19 Turmoil?
| Case Code: ECON097 Case Length: 12 Pages Period: 1976- 2021 Pub Date: 2021 Teaching Note: Available |
Price: Rs.400 Organization : - Industry : - Countries : India Themes: Macroeconomic Environment, Economic Slowdown, Digital Disruption, Logistics & Supply Chain |
Abstract Case Intro 1 Case Intro 2 Excerpts
Journey of China As A Global Manufacturing Hub: A Snippet
Prior to the initiation of economic reforms and trade liberalization in 1978, China followed policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free-market reforms in 1979 and joining the World Trade Organization in 2001. China had become the world’s largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves. This in turn had made the country a major commercial partner of the US. China was also the largest foreign holder of US Treasury securities, which helped fund the federal debt and keep US interest rates low. According to International Monetary Fund (IMF) data, China accounted for 40% of global economic growth, larger than the combined contributions to global growth of the US, EU, and Japan..
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