Country economic review - People's Republic of China
Asian Development Bank | October 2000
Abstract
The People’s Republic of China (PRC) successfully weathered the Asian crisis. Three consecutive years of expansionary fiscal policy and interest rate reductions enabled the country to contain the adverse effects of the Asian crisis, maintain a stable exchange rate, and achieve robust growth. Strong economic growth continued in the first three quarters of 2000 when gross domestic product (GDP) grew by 8.2 percent. For the whole of 2000, GDP growth will be about 8 percent. Coupled with targeted antipoverty programs of the Government, the robust growth enabled the PRC to continue its commendable progress in reducing poverty. However, PRC’s fight against poverty is far from over as there are still about 230 million people (18.5 percent of the population) living below the $1-a-day consumption norm, and about 670 million (53.7 percent of the population) living below the $2-a-day consumption norm. The incidence of poverty is highest in the interior provinces, especially in the western region of the country. Urban unemployment and poverty are now emerging as new challenges.
Citation
Asian Development Bank. 2000. Country economic review - People's Republic of China. © Asian Development Bank. http://hdl.handle.net/11540/6340.Keywords
Industry
Development Economics
Economic Models
Organization for Economic Cooperation and Development
Securities
Mines
Competition
Industrial competition
Unfair competition
Monopolies
Competition policy
Development cooperation
Economic discrimination
Industrial Development
Financial Services Industry
Industrial Sector
Competition
Comparative economics
Communication in economic development
Industrialization
Monopoly
Barriers to entry
Monopolistic competition
Restraint of trade
Price discrimination
Imperfect competition
Press monopoly
Diversification in industry
Unfair competition
Investment banking
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