As recently as the mid-twentieth century, China was regarded as an abjectly impoverished economy. However, with the launching of an economic reform package and the 'open door policy' in 1978 a new era of vertiginous economic growth and global integration dawned. 2008 will mark three decades of broad-based market-oriented macroeconomic reforms and restructuring. During this period virtually every indicator of economic wellbeing improved. In recent years China has established itself as a major economy, with the highest long-term average GDP growth rate in real terms in the fastest growing region of the global economy. Based on its past economic performance some analysts predict that China will become the second largest economy in the world, measured at market exchange rate, in the near future. This book explores the remarkable growth in the Chinese economy over the last few decades, and looks at the reforms which sparked this success. The Author sets the Chinese economy within the context of the Asian region, and also within the global economy. This book will be an invaluable companion for researchers and scholars interested in this topical and ever-evolving area.

DILIP K. DAS is a distinguished scholar of Asian economy, and has published numerous books and journal articles on themes related to Asian economy. He has been associated with several prestigious business schools, including the Graduate School of Business, University of Sydney and INSEAD, Fontainebleau, France. He has also worked for the World Bank as a consultant as well as for the Economic Research Division of the Asian Development Bank.