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Sarmiza Pencea

Conjunctura economiei mondiale / World Economic Studies, 2012

Abstract: In the midst of the global economic crisis, China has recorded a series of absolutely remarkable accomplishments, which helped it reposition itself on Terra’s economic map. In response to the crisis’ strong downward pressures on growth, Chinese leaders implemented a huge investment and fiscal stimulus programme, which has quickly pushed up the growth rate. But both the crisis itself and the stimulus have revealed and worsened the numerous pre-existent economic imbalances, generating, additionally, new unexpected but severe negative outcomes (escalating inflation, distorted allocation, wastage, moral hazard, skyrocketing local administrations debt and non-performing loans, dangerous speculative bubbles etc.). This article looks at China’s macroeconomic evolutions during 2011 and the first part of 2012 - economic growth, inflation, unemployment and new job creation, productive investments, domestic trade and consumption, foreign trade and trade surplus, foreign direct investments and Chinese outbound investments, evolution of the external reserves and of the yuan etc. -, as well as at Chinese economy outlook in the following years.

Keywords: China; Chinese economy; investment and fiscal stimulus; economic rebalancing; economic reform; yuan; RMB; 2011 (search for similar items in EconPapers)
JEL-codes: O11 O53 (search for similar items in EconPapers)
Date: 2012
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