The Chinese Macroeconomy and Financial System A U.S. Perspective [Paperback]

This new textbook on the Chinese economy clearly presents all that the world's second largest economy has accomplished, as well as what work remains to be done. As economic development in China for the last 30 years has been mostly top down, this text focuses on the macroeconomic and monetary sides of the economy. Utilising case studies throughout, the book uses not only the traditional macroeconomics tools in explaining the Chinese economy, but also takes a novel approach by assessing China as a company. Through employment of models from finance, such as cash flows and valuations, the text is able to dig deeper into understanding the fundamental characteristics of the Chinese economy. The book also presents extremely useful analysis of the comparisons and contrasts between Chinese economic activity and that of the U.S. economy.

eResources including chapter questions with solutions and lecture slides will be available on this webpage.

1. Introduction 2. Measuring and Accounting for the Output of a Nation: GDP 3. China and the United States and the Balance of Payments 4. Long Run Economic Growth 5. Consumption and Savings in China and the United States 6. China's Path of Investment 7. Monetary Policy and Institutions in China and the United States 8. Monetary Policy in Action 9. The Keynesian Model: Extensions to China and Beyond 10. Public Finances and Fiscal Policy in Action

I was very fortunate to be taught by Professor Schramm in 1985 at Columbia Business School. To this day, I credit him as being the single-best teacher I have ever had  in business or in academia  and someone blessed with the rare ability to express complex ideas in simple language. His thoughtful analysis of Chinas economic and financial development, the equivalent of a masters course in international economics, reflects that skill.

The Chinese Macroeconomy and Financial Systemcombines the nuanced insight of a decal£¦