The Chinese Macroeconomy and Financial System

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Since economic development in China for the last 30 years has been mostly "top down, " it's appropriate that a new textbook focused on the Chinese economy emphasizes the macroeconomic and monetary sides of the economy. Through adept use of case studies, the author clearly presents what the world's second largest economy has accomplished and what work remains. Schramm uses not only the traditional macroeconomics tools in explaining the Chinese economy but also takes a novel approach by assessing China as a company. By employing models from finance, such as cash flows and valuations, he is able to dig deeper into understanding the fundamental characteristics of the Chinese economy. Another unique approach is referencing Chinese economic activity to that of the U.S. economy: what is similar, what is different. Numerous graphs, tables, and charts accompany the text.

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