Book description
China's recent economic reforms have led to impressive growth,
and an unprecedented enthusiasm for establishing foreign enterprises in
China. Since 1993, China has been the second largest recipient of foreign
direct investment in the world after the USA and is now considered to be the
world's third biggest economy after the USA and Japan. Its greater economic
integration with the rest of the world, especially since its accession to
the World Trade Organisation (WTO), has further accelerated its
market-oriented economic reforms. China is now opening its protected markets
and beginning to submit to the rule of international law. This ongoing
transition and increasing participation in the world economy has resulted in
significant changes in human resource, management and social welfare
practices in China's enterprises. The book examines the key areas, all of
which are linked, where China is grappling with institutional reforms as it
opens up to the outside world - state-owned enterprise reform; capital
markets and financial reform; human resources and labour market reform;
social welfare reform; and China's accession to the WTO and the growth of
the private sector.
About the author
Russell Smyth is an Associate Professor in the
Department of Economics and Director of the Asian Business and Economics
Research Unit at Monash University.
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