China Fiscal Policy Revamp Faces Hurdles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook China Fiscal Policy Revamp Faces Hurdles write by United States-china Economic and Security Review Commission. This book was released on 2014-10-07. China Fiscal Policy Revamp Faces Hurdles available in PDF, EPUB and Kindle. During his first year in office, President Xi Jinping put fiscal reform back on top of China's policy agenda. The Party Politburo followed the president's lead in June, promising to finish major fiscal and tax reform tasks by 2016 and establish a modern fiscal system by 2020.1 Among the proposals is the elimination of a tax that discriminates against services companies, adding a recurring tax on property, and imposing a price-based tax on coal, along with measures to improve budget management. China last overhauled its tax-and-spend system in 1994, when the country's economy was much smaller and its accession to the World Trade Organization was in doubt. The economy took off in the ensuing years, but the fiscal system remained largely unaltered. Fiscal reform in the world's second-largest economy now carries significant implications for U.S. businesses and the world economy. Why now? Finance Minister Lou Jiwei, after six years as Chairman of China Investment Corporation (China's sovereign wealth fund), wants to make his mark as a reformer. The government is also facing gaps in the budget. An audit commissioned last fall by Premier Li Keqiang revealed local governments across the country are mired in debt that will soon mature and must either be rolled over or retired with new revenue.
China Fiscal Policy Revamp Faces Hurdles
China Fiscal Policy Revamp Faces Hurdles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook China Fiscal Policy Revamp Faces Hurdles write by Iacob Koch-Weser. This book was released on 2014. China Fiscal Policy Revamp Faces Hurdles available in PDF, EPUB and Kindle. This issue brief argues that, slowly but surely, China is adopting a new fiscal paradigm. President Xi seeks to "kill two birds with one stone," fixing the fiscal system as a means to rebalance the economy. Even as China maintains a "state-capitalist" system, it is keen to tax and spend as progressively as a wealthy market economy. However, technical barriers and conflicts of interest are likely to delay and dilute fiscal reform. Coal and property taxes could destabilize the economy. Powerful SOEs oppose corporate tax reforms in strategic sectors, and ordinary households complain their tax burden is heavy enough as it is. Beijing also faces a delicate balancing act between devolving budgetary authority to local officials, and exerting sufficient control to prevent waste and mismanagement.
How China Became Capitalist
How China Became Capitalist - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook How China Became Capitalist write by R. Coase. This book was released on 2016-04-30. How China Became Capitalist available in PDF, EPUB and Kindle. How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
China 2049
China 2049 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook China 2049 write by David Dollar. This book was released on 2020-06-09. China 2049 available in PDF, EPUB and Kindle. How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Report to Congress of the U.S.-China Economic and Security Review Commission
Report to Congress of the U.S.-China Economic and Security Review Commission - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Report to Congress of the U.S.-China Economic and Security Review Commission write by U.S.-China Economic and Security Review Commission. This book was released on 2014. Report to Congress of the U.S.-China Economic and Security Review Commission available in PDF, EPUB and Kindle.
