会员登录
会员注册I. Introduction
To assess China’s future role in Asia, it is necessary to have a short review of what China has achieved since the reform and open-door policy started in 1978. From the end of 1978 to 2001, the average annual Growth Rate of GDP in China reached 9.3% and that of trade 15.0%. In other words, in the past 23 years, China’s GDP and foreign trade have increased 8 and 25 times respectively. Now, China has become the seventh largest economy measured by official exchange rate and the second largest economy in terms of purchasing power. Because of this rapid growth, China has significantly reduced the number of people living below poverty line. China has not only developed its own economy, but also made many contributions to other Asian economies. For example, in the East Asian Financial crisis, China did not devalue its currency and thus helped to avoid the crisis-hit countries’ competitive devaluation and contributed to their early recovery.
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