Answer the following problems:

problem 1
Discuss
1) the key characteristics of the Chinese economy during the Mao era,
2) the socio-economic shortcomings that China experienced between 1949 and 1976 and
3) the accomplishments that China experienced between 1949 and 1976.

problem 2
Discuss the following in relation to China’s market reforms:
1) the political and economic factors on the basis of which China decided to undertake  market reforms;
2) how China’s approach to market transition differs from the approach followed by the ex- Soviet economies;
3) to what degree China’s peculiar strategy can be considered critical for the success of China’s rapid growth;
4) the implications of this for other developing countries seeking to follow the same path.

problem 3
Present:
1) The key differences between the first and the second phase of China’s reform,
2) substantiate your answer with the discussion of specific measures that demonstrate the difference between the two phases, and (3) discuss the socioeconomic effects of the two phases of reform.

problem 4
Discuss:
1) The current macroeconomic structure of the Chinese economy (i.e. the engines of China’s growth),
2) The policies that have led to the current macroeconomic structure,
3) Why China’s macroeconomic structure is considered unsustainable, and
4) What types of changes are advocated?

problem 5
describe
1) the meaning of the so-called “global imbalances,
2) how they came about, and
3) the different perspectives on they how they should be approached (i.e. are they sustainable? Do we need policy intervention? Can we rely on market correction?).

problem 6
Discuss
1) China’s exchange rate regime,
2) how the monetary policy intervenes to maintain it, and
3) how it developed over time. Complete your answer by describeing
4) why Yang and Heng (2012) claim that a “revalued Yuan would not bring about what these eminent economist and patriotic US congressmen wished for”.

problem 7
Discuss:
1) how the process of globalization has affected the characteristics of labor markets in the global economy and, more specifically,
2) how the process of globalization has affected the characteristics of the labor market in China and
3) present the international debate on labor standards.

problem 8
Discuss how inequality, poverty and human development have been affected by China’s reform process.

problem 9
Evaluate
1) the ecological consequences of China’s rapid economic growth, and
2) the challenges brought about by the need to address climate change.

problem 10
Discuss :
1) The policy initiatives that China introduced in response to the 2008/2009 global crisis, and 2) evaluate both their strengths and their problems.