China's Political Economy

1997 was truly an eventful year for China, with many momentous happenings. In February of that year Deng Xiaoping passed away, thus marking the end of an era, the post-Deng Chinese leadership under Jiang Zeming had to mobilise great efforts to ensure the smooth resumption of sovereignty over Hong Kong on June 30. This was then followed by intensive preparation for the holding of the 15th National Congress of the Chinese Communist Party in September, which set national priorities for China's medium- and long-term development as well as decided on the core team of younger leaders responsible for leading China into the 21st century. China is in the midst of great political, economic and social changes, which will intensify each other on account of their speed and scale. History has never before witnessed such a huge country as China industrialising and transforming itself so rapidly and so extensively. Accordingly, China's success or failure in its domestic development carries serious regional and international implications. There is still a great deal of uncertainty as to how soon in the next century China will become the world's most powerful economy. But what is happening in China today has already impinged on many aspects of life for people in the Asia-Pacific region, either in terms of growing trade and investment opportunities from China or in terms of regional security. This volume is largely based on public lectures and seminars papers by academic visitors and scholars at the East Asian Institute. Each has been written as a self-contained piece by a China expert, but presented primarily with non-specialist readers in mind.