尋求變革︰當代中國經濟發展(英文版)

文摘︰

China﹀s sudden rise as a global trading power has been greeted with a curious mixture of both admiration and fear. Irrational exuberance about the country﹀s economic future has prompted investors to gobble up shares of Chinese firms with little understanding of how these companies actually operate. Meanwhile, overestimates of China﹀s achievements and potential are fueling fears that the country will inevitably tilt global trade andtechnology balances in its favor, ultimately becoming an economic, technological, and military threat to the United States. These reactions, however, are equally mistaken: they overlook both important weaknesses in China﹀s economic \〃miracle\〃 and the strategic benefits the United States isreaping from the particular way in wluch China has joined the globaleconomy. Such misjudgments could drive Washington to adoptprotectionist policies that would reverse recent improvements in U. S.-C,hina relations, further alienate Washington from its aUies, and diminish U. S. influence in Asia.

In fact, the United States and C.hina are developing precisely the type ofeconomic relationship that U. S. strategy has long sought to create. Chinanow has a stake in the liberal, rules-based global economic system that theUnited States worked to establish over the past half-century. Beijing hasopened its economy to foreign direct investment ( FDI) , welcomed large-scale imports, and joined the World Trade Organization (WTO),spurring prosperity and liberalization witlrin C,hina and across the region.