Ten Crises : : The Political Economy of China's Development (1949-2020).

• Superior document: Global University for Sustainability Book Series
• Author: Wen, Tiejun.
• TeilnehmendeR: Kin Chi, Lau.; Tsui, Sit.
• Place / Publishing House: Singapore : : Springer Singapore Pte. Limited,, 2021.; ©2021.
• Year of Publication: 2021
• Edition: 1st ed.
• Language: English
• Series: Global University for Sustainability Book Series
• Physical Description: 1 online resource (538 pages)

Table of Contents

Intro -- Foreword -- Preface -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1 Key Concepts -- Capital and Government -- Urbanization and Cycle of Crises -- Political Modernization and Debt Crisis -- Theory of Cost Transfer -- Crisis Soft-Landing and Empowering the Three Agrarian Sectors -- 2 Development Trap and China's Experience -- 3 China's Economic Crises and the Conditions of "Soft-Landing" -- 2 1949-1952: 'Land Reform Dividend'-Old Crisis Plus New Crisis -- 1 Overview -- 2 An Interpretation of the Crisis in the Three Years of National Economic Restoration -- 3 Resolving the Modern Financial Crisis of the Old Republic -- From Silver Crisis to Paper Currency Crisis -- Currency War and Hyperinflation in the Republic of China -- The Birth of Renminbi: The Continuation or End of the Crisis? -- Stabilizing the RMB: 'Material Supplies Standard' Resolved the Crisis of Paper Currency -- The Great Currency Defence Battle -- The State-Conferred Credibility on RMB by Supplies-Based Value System in Three Domains -- 'Supplies Standard' Currency System in Practice in Liberated Regions -- RMB Put on a Firm Footing by the Organization of Rural Regions After Land Reform -- Redistribution of Property Relationship and Organization of Peasants Reduced the Cost of Levying Staple Grain -- Irrigation Infrastructure Construction Through State-Mobilized Labour to Secure Food Production -- Preliminary Completion of State Regime Building -- 4 New Crisis: Government Regulation Under a Weak Market and Political Movement -- Background: Sluggish Urban and Rural Economies After Curbing Hyperinflation -- Efforts in Promoting Urban-Rural Market Exchange and Their Limits -- The Achievement of Promoting Urban-Rural Market Exchange and Its Limit -- Primitive Accumulation of Capital and the Policy Paradox of Price Scissors.

Dealing with the Crisis: Counter-Cycle Regulation and Political Movement -- Re-understanding the Shift from New Democracy to 'Socialist Transition' -- 5 Conclusion: The Relevance of China's Experience to Developing Countries -- 3 1958-1976: Three Rounds of Crises at the Initial Phase of Industrialization and the Background of Foreign Debts Due to Introducing Foreign Investment -- 1 Background of the First Occasion of Industrialization Relying on Foreign Capital: The Reconstruction and Transformation of Geo-Political Strategy After WWII -- Industrialization and the Dilemma of Urban-Rural Dual Structure -- The Price of Soviet Union's Aid: The Socialist Restructuring of Economic Base and the "Sovietization" of Superstructure -- Institutional Transition and New Ideology -- 2 The Second Crisis (1958-1960): What Happened in China After the USSR Aid was Interrupted? -- 3 The Third Crisis (1968-1970): Strategic Adjustment of "Three Defence Lines Construction" and Economic Crisis -- 4 The Fourth Crisis (1974-1976): The Last "Going to Mountains and Villages" Movement -- New Geopolitical Condition in the 1970s -- 4 Three Endogenous Economic Crises since the Reform and Corresponding Resolutions 1978-1997 -- 1 1979-1980: The First Economic Crisis since the Reform and Economic Recovery with the Help of the Sannong -- How the First Crisis Since the Reform Happened and the Characteristics It Displayed -- The 1980 Economic Crisis Hard-Landing in Cities -- Revival with the Help of the Sannong -- Reforms on Two Aspects in Rural Policy -- Three Factors by Which Rural Industrialization Facilitated the Recovery of National Economy -- Experience and Lessons from Handling of the 1979-1981 Crisis -- The Profound Impact of the Institutional Costs Brought About by the Reform.

2 The 6th Crisis (1988-1990): The Second Economic Crisis since the Reform and the Response of the Sannong -- Characteristics and Intrinsic Mechanism of the 1988-1990 Economic Crisis -- The Transferal of the Economic Crisis and the Costs to the Sannong -- 3 Third Round of Foreign Capital and Debts: Background and Rationale Change-1988-1994: "It is Crucial to Develop Exports to Earn Foreign Exchange" -- 4 The 7th Crisis: 1993-1994, the Third Economic Crisis since the Reform, and the Transformation to Export-Oriented Model -- Internal Mechanism and Characteristics of the 7th Economic Crisis in 60 Years of Industrialization, the Third since the Reform -- The Urban and Rural Sectors Jointly Shared the Costs of 1993-1994 Crisis -- Urban Workers Laid off on Large Scale -- Marketization and Privatization of Public and Social Services -- Local Government Transferred the Governance Costs to Villages -- Serious Social Contradictions -- Financial Capital Alienated from Physical Industries -- Fundamental Change in the Mechanism for Capitalization of Land Resource -- The Positive and Negative Impacts of Crisis Management on the Sannong -- 5 Two Exogenous Crises in 1997 and 2008: Occurrence, Response and Impact -- 1 Four Rounds of 'Foreign Capital Introductions' Over Sixty Years, Each Accompanied by Emergence of Two Crises -- 2 The Eighth Crisis: Measures to Deal with 1997 Asian Financial Crisis and the Impact -- Change in Origin of the Crisis: Why Was It an "Imported" Crisis? -- China's Key Experience in Responding to Imported Crisis: "Government Intervention" -- Financial System Reform-Financial Capital Controlled by Central Government Transformed into Monopolistic Capital Independent of Localized Real Industry -- Banking Commercialization Reform -- A Review of the Evolving Relationship Between Financial Capital and Real Industry in China.

The 1980s: Local Financialization Propelled Local Industrialization -- 1994-2002: The Re-Centralization of Finance and Its Alienation from Local Industries -- 1993-1996: Background of Contractionary Financial Policy -- The Impact of Financial Austerity Policy During 1993-1996 -- 1997-2002: Banking Commercialization Reform and Its Aftermath -- Proactive Fiscal Policies-Infrastructure Construction Investments Mainly by the Central Government -- "Government's Entrance" as the Fundamental Experience for China in Response to Imported Crises -- Impact of Crisis on the Sannong and Rural Governance -- The Sannong Became the Vehicle to Achieve "Crisis Soft-Landing" -- Impact on Rural Economy and Peasant Income -- Impact on Rural Governance: The Model of "Self-Financing" for Rural Governance was Again at Danger -- 3 Contextualizing the Fourth Round of Foreign Investments and Foreign Debts in 1997-2008: Collision of External and Domestic Over-Capacities -- 4 The Ninth Crisis: Policies Responding to the 2008 Financial Crisis and Impact -- China's Domestic Situation Before the Crisis -- China's Economy was Further Integrated into the Great Global Economic Circulation Dominated by the USA -- US Dot-Com Bubble and FDI Flooding into China -- Structural Contradiction in China's Economy-Three Overcapacities and Worsening Imbalance of the Troika -- Corporatized Local Governments "Cashing in Land": The "High Investment + High Indebtedness = High Growth" Model Led by Urbanization -- How the "New Pro-People's Livelihood Policies", Represented by the Sannong Strategy, Facilitated the "Soft Landing" of 2008 Crisis -- "Sannong New Deal": Background and Contents -- Repairing the Regulatory Function of Rural "Capital Pool" and "Labor Pool" -- 2008-2009: China's Response After the Second Imported Crisis -- The Global Financial Crisis and Its Impact on China.

FDI and China's Financialization -- How Did Chinese Government Deal with the Crisis -- Function of the Rural Labor Reservoir in Stabilizing Society -- Brief Comparison Between the Two Imported Crises Regarding Responses and Conditions -- 6 Unfolding Crisis and Great Transformation (2013-2020): From Globalization to Ecological Civilization as Localization -- 1 The Crisis of Globalization and the New Cold War -- Debt Regime and the Heavily Indebted Hegemony -- Recourse to Cold War Strategy -- From Delinking to Re-Linking to US-China Decoupling -- From Structural Complementarity to Institutional Delinking -- Economic Iron Curtain: From TPP to Economic Prosperity Network or Other Future Initiatives -- Reverse-Globalization or the Exclusion of China from the Global Trade Regime -- Global Regionalization -- Fast Track to a New Cold War -- 2 Post-epidemic Impact: Towards a Hard Delinking -- The Formation of an Exclusive Global Financial Regime -- 3 A Brief Recapitulation of Major Domestic Economic Aspects During 2013-2020 -- Rapid Financialization Crowding Out Industrial Development -- Nonfinancial Enterprises Financialized and E-Finance Bubble -- The Lesson China Should Learn from the Crisis in the West -- Monetary Sovereignty -- A Race of Post Dollar Hegemony: Digital Currency and New Global Financial Order -- The Astronomical Expansion of Debt -- Land Issues: Land Finance and the Expansion of Real Estate Sector -- Local Fiscal Budget Deficits -- Real Estate: The Sisyphus Boulder of the National Economy -- Structural Imbalance and Rebalance in Three Aspects -- New Infrastructure Building and the Worry of Economic Polarization -- The Regional Mega Integration and the Dilemma of Regional Rebalance -- Dual Circulation Strategy -- 4 Ecological Civilization: Localization as Alternative to Globalization -- Policy Adjustment: Rural Revitalization.

COVID-19 Epidemic as a Strategic Time Window.