China’s Economic Growth and the ASEAN

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There is no doubt that China stands as the fastest growing economy in Asia. No longer the sleeping dragon, this country has grown tremendously in the last decade, not just in terms of population, but more importantly, in terms of export and investment potential. Its exports are exploding at a phenomenal rate and its foreign direct investments surged tenfold between 1990 and 1995. Within China, the domestic economy is also changing as a result of its growing economic strength. How do all these developments in China’s economy impact on its Asian neighbors such as the Philippines? This volume provides an in-depth analysis of the issue. This volume is the output of a project funded wholly by the Philippine APEC Study Center Network (PASCN) that aimed to look into the rise of China’s economy and its implication to the Asia-Pacific region from the Philippine perspective. The project has involved the conduct of individual studies on the various aspects of China’s economy such as the macroeconomy, foreign direct investments, political economy and security and trade patterns and how these will impact on the ASEAN. Six noted social scientists who have considerable work and teaching experience in Chinese studies authored the paper. As the lead convenor of PASCN, the PIDS takes pride in publishing this volume, which is proof of its continuing commitment to research, particularly on issues that have a bearing on Philippine economic development. It is the hope of the Institute that through this volume, policymakers and decision makers can draw insights and lessons from China’s experience in climbing the economic ladder.