Contents -- Preface -- Part 1 Economic Institutions -- Chapter 1 Introduction: An Overview of China's Economy -- 1.1. How did China Manage to Grow so Rapidly? -- 1.2. China's Economic Strength -- 1.3. Comparing China's Market Institutions with the US -- 1.4. China's Short-Term Economic Policies -- 1.5. China's Long-Term Economic Policies -- 1.6. The Role of China as a Leader in the World Economy -- References -- Chapter 2 Three Important Players of China's Economy -- 2.1. The Chinese Government -- 2.2. The Entrepreneurs -- 2.3. Workers and Ordinary Citizens -- References -- Chapter 3 Is Chinese Capitalism Different? -- 3.1. The Chinese Government is Different -- 3.1.1. The Chinese government plays a more important role in regulating the economic behavior of the entrepreneurs -- 3.1.2. The Chinese government plays a different role in setting up economic institutions -- 3.2. The Chinese Legal Institutions are Different -- 3.3. The Chinese Culture is Different -- 3.4. The Chinese Workers are Different -- Chapter 4 Economic Planning in China -- 4.1. Role of Planning in the Chinese Economy -- 4.2. Scope of Planning -- 4.3. Numerical Targets and the Degree to Which They are Met -- 4.4. Organization of the NDRC -- 4.5. How is the Planning Carried Out? -- 4.6. Effects of Planning on China's Economic Development -- Chapter 5 Role of Economists in China's Economic Development -- 5.1. Role in the Government -- 5.2. Role in Academic and Research Institutions -- 5.3. Role in Business Enterprises -- 5.4. Role of the Chinese Economists Society -- Chapter 6 Free to Choose in China -- 6.1. Economic Freedom in the Last Half Century -- 6.2. Relation of Economic Freedom and Political Freedom -- 6.3. The Role of Government -- 6.4. Social Welfare -- 6.5. Education -- 6.6. Consumer Protection -- 6.7. Macroeconomic Policy -- 6.8. The Tide is Turning -- Notes.

References -- Chapter 7 Chinese and American Economic Institutions Reflecting Cultural Differences -- Chapter 8 Outflow of Capital and China's Diplomacy -- Chapter 9 Economic Relations Between Brazil and China -- Chapter 10 India's Model of Rapid Economic Development -- Chapter 11 Will the Russian Economy Grow Rapidly? -- Chapter 12 Comparing Economic Developments in Taiwan and Mainland China -- 12.1. Similarities -- 12.2. Differences -- Part 2 Economic Issues -- Chapter 13 Problems Facing the Chinese Economic System -- 13.1. Corruption -- 13.2. Income Disparity and Rural Poverty -- 13.3. Education -- 13.4. Healthcare -- 13.5. Energy and Environment -- 13.6. Conclusion -- References -- Chapter 14 Directions for Economics Education and Research in China -- 14.1. Importing Economics Knowledge from Abroad -- 14.2. Exploring the Frontier of Economic Knowledge in China -- Chapter 15 Important Lessons from Studying the Chinese Economy -- 15.1. On Economic Science -- 15.1.1. The basic theories of microeconomics, macroeconomics and financial economics apply to China -- 15.1.2. Market economy can work under different institutional arrangements -- 15.1.3. Economic development can occur under different forms of government -- 15.1.4. Importance of human capital in economic development -- 15.1.5. Economic forecast possible because of validity of econometric models and parameter stability -- 15.1.6. Forecasting institutional changes possible by using a similar methodology -- 15.2. On Economic Policy and Economic Advice -- 15.2.1. A gap between academic knowledge and ability to apply it for solving practical problems -- 15.2.2. A gap between choosing the right economic knowledge for application and making a sound policy recommendation -- 15.2.3. Important points in giving economic advice.

15.2.4. Using the framework of dynamic optimization to provide economic policy advice -- 15.2.5. Implementation of government policies -- 15.2.6. Making social change without going through the government -- 15.3. The Characteristics of China's Economy -- 15.4. China's Economic Transformation Process -- 15.4.1. Gradualism works -- 15.4.2. Allowing both state sector and non-state sector to co-exist and compete -- 15.4.3. Use of dual price system -- 15.4.4. Economic liberation through the open-door policy -- References -- Chapter 16 US Housing Bubble and Economic Downturn -- Chapter 17 Will Consumption Expenditures in China Increase Rapidly? -- Chapter 18 From Guangzhou Opera House to Issues of Economic Development -- Chapter 19 Lessons from the Current American Great Recession -- Part 3 Economic Policies -- Chapter 20 How to Improve University Education in China? -- Chapter 21 How to Manage a University Well? -- Chapter 22 How to Improve the Efficiency of State Enterprises? -- Chapter 23 Carry Out the Open Door Policy Further -- Chapter 24 How to Stop Inflation in China? -- Chapter 25 How to Solve the Problems of China's Inflation and the American Recession? -- Chapter 26 China's Aging Population -- Chapter 27 China's Environmental Policy: A Critical Survey -- 27.1. Laws and Basic Policies -- 27.2. Two Kinds of Policy: Regulation and Control vs. Economic Incentives -- 27.3. Problem of Enforcement -- 27.4. Recent Successes in Promoting Alternative Energy and in Controlling Pollution -- 27.5. Proposals for Regulating China's Industrial Air Pollution and for Controlling World Carbon Emission -- Appendix -- A. Development of Clean Energy -- B. Environmental Protection -- Part 4 Quantitative Economic Studies -- Chapter 28 Note on a Model of Chinese National Income Determination -- References.

Chapter 29 Lessons from Studying a Simple Macroeconomic Model for China -- Acknowledgement -- References -- Chapter 30 Shanghai Stock Price Movements Reflecting China's Globalization -- Chapter 31 Co-Movements of Shanghai and New York Stock Prices by Time-Varying Regressions -- 31.1. Introduction -- 31.2. Co-Movement of Prices of Stocks Traded in the Shanghai and New York Stock Exchanges in Two Sample Periods -- 31.3. Specification of Time-Varying Coefficient Regressions for the Co-Movement between Stock Returns in Shanghai and New York -- 31.4. Estimation Results -- 31.5. Conclusion -- Reference -- Index.