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By Yun-Wing Sung

The fusion of information and capital from Hong Kong and Taiwan with the great labour assets on China has ended in the emergence of a dynamic economic system of "Greater China" rivalling america, the eu Union and Japan. what's the nature and development of alternate and funding inside of better China? What are the affects at the global economic climate? With China's access into the WTO, what are the issues and customers of better China? those are a number of the concerns raised inside Yun-Wing Sung's ebook.

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Additional info for The Emergence of Greater China: The Economic Integration of Mainland China, Taiwan and Hong Kong (Studies on the Chinese Economy)

Sample text

Shanghai’s stock market has surpassed that of Shenzhen, and Shanghai is now the undisputed financial centre and service hub of the Mainland. Besides attracting FDI in services, it also has attracted a lot of FDI in manufacturing. Shanghai, together with Suzhou (a major city in Jiangsu) nearby, now vies with Beijing and Shenzhen to be China’s silicon valley. Despite its recent rapid growth, however, Shanghai is much less export-oriented than Guangdong. In 2003, Shanghai’s GDP was 46 per cent of Guangdong’s, but Shanghai’s exports were only 32 per cent of Guangdong’s.

Organization of the book Following this introductory chapter, Chapter 2 will analyse the opening of China and the economic integration of the China Circle. Chapter 3 will cover the policy changes among the trio that led to the reintegration of Greater Southeast China. Chapters 4 and 5 will cover respectively trade and investment between Hong Kong and the Mainland/ Guangdong. Chapter 6 will cover trade and investment between Taiwan and the Mainland/Hong Kong. Chapter 7 will give an overall view of trade and investment among the trio, correcting for the statistical biases mentioned above.

Under protection, Shanghai built up a vast industrial complex composed of state-owned enterprises (SOEs), and the protected industries were often inefficient. The inefficiencies of import substitution and state ownership have handicapped the development of Shanghai down to the present. Fujian Fujian has benefited from Taiwanese investment, especially after Taiwan liberalized its prohibitions on visits to the Mainland in late 1987. Seventy per cent of Taiwan’s population originated from the southern part of Fujian Province, where Xiamen was the economic capital.

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