China's Path of Industrialization (eBook)

Series Foreword 6
Preface 9
Contents 13
1 Industrial Revolution: In Full Swing in Both East and West 16
1.1 Revolution: The Origins in the West 17
1.2 The Sweeping Wave of Industrial Revolution Across the Globe 19
1.3 China’s Industrialization: A Zigzag, Yet Great Journey 21
1.4 China’s Industrial Reform: The Engine of a Comprehensive Reform and Opening-Up 27
1.5 China’s Experience of Industrialization 32
1.6 What Industrial Revolutions Could Achieve as Demonstrated in China’s Industrialization 36
References 44
2 The Call for Industrialization: Poverty Giving Rise to a Desire for Change 45
2.1 Traditional Outlook on Morality and Benefit 47
2.2 The Starting Point for Acceleration of Industrialization: To Legitimize Pursuit of Personal Wealth 49
2.3 The Start of Market Economy in China 52
2.4 Integration of China’s Industrialization with Economic Globalization 53
2.5 The History of Wealth Creation Has just Started 57
References 62
3 High-Speed Growth: Massive Economic Expansion Through Low-Cost Alternatives 63
3.1 Robust Industrial Growth Has Turned China into the World’s Second Largest Economy 64
3.2 Industrial Growth Propelled by High Savings Rates and High Investment Rates 68
3.3 Rapid Expansion of China’s Industry in the Global Context 72
3.4 “Overcapacity” and Environmental Pressures 77
References 81
4 Back to the Normal: The End of History for Hyper Growth 82
4.1 A Transition from Hyper Economic Growth to a “New Normal” 83
4.2 The “New Normal” of Economic Development from a Long-Term Perspective 87
4.3 Features of China’s “New Normal” of Economic Development in the New Era 94
4.4 The Impetus for Reform Under the “New Normal” 98
4.5 The Relationship Between Fairness and Efficiency and the Driver of Innovations Under the “New Normal” 104
4.6 Behavioral Characteristics and Rule Consciousness Under the “New Normal” 108
4.7 Shifting from “Anxious for Quick Success” to “Strategic Thinking” Under the “New Normal” 111
References 114
5 Path to Innovation: Technological Progress and Structural Upgrading 115
5.1 Sources of Industrial Technology 116
5.2 Status and Trends of High-Tech Industries 119
5.3 Technological Progress Under the Opening-Up Policy 125
5.4 The Role of SOEs in Industrial Technology Innovation 130
5.5 Establishment of a Modern Industrial System Amid Constant Innovation 134
6 Seeking Balance: Resource Conservation, Environmental Protection and Industrial Development 143
6.1 Industrialization Is a Process of Resource Creation and Consumption 144
6.2 China’s Industrialization in the Face of Resource Constraints 145
6.3 Trade-off Between Industrial Development and Environmental Protection 157
6.4 Orientation of Government Policies on Resource and Environmental Regulation 163
References 170
7 Regional Gradient Development: A Complicated Topic for a Giant Country 171
7.1 Inter-regional Economic Relations During Industrialization 171
7.2 Industrialization Spreading to the Hinterland 178
7.3 The “New Normal” of Regional Economic Development 182
7.4 Changes in the Orientation of Regional Economic Development Policies 188
7.5 New Challenges for Local Governments 193
7.6 Promoting Synchronization Between New Urbanization and “Four Modernizations” 197
References 202
8 An Inclusive World: Entering a New Era of Economic Globalization 204
8.1 China’s Industrialization: A Rare, Tremendous Change in the History of Humankind 204
8.2 Globalization: An Inevitable Result of Industrial Revolutions and Market Economy 209
8.3 Economic Globalization Turned Out Less Satisfactory 213
8.4 The Evolving Geopolitical Landscape in the Context of Globalization 215
8.5 The Evolution of Global Governance Structure in the Context of Globalization 219
8.6 China in the Era of Economic Globalization 3.0 224
8.7 The Spirit of “Inclusiveness” in the “Belt and Road Initiative” 229
References 234
Appendix Milestones in China’s Industrialization 236
Foundation Period 236
Period of Industrialization Acceleration 243
Period of “New Normal” 246
Bibliography 249
Index 255