Год издания: 2007
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The success of China's program of economic reform and the rapid integration of China into the global economy has prompted this study on the degree of economic and financial integration between China, Hong Kong, and Taiwan - a grouping sometimes referred to as Greater China. Since real and financial integration has substantial implications on the efficiency of resource allocation and efficacy of macroeconomics policy, this volume offers clear analysis of the current state of economic integration of Greater China, which will help gauge the potential role of China on the global economy. It also includes complementary discussions on the interactions between China and several Pacific Rim economies, namely, Japan, Korea, Singapore, and the United States. In addition to using the standard approach to analyzing economic integration, the authors also evaluate the prospect of a currency union in Greater China, the most extreme form of integration. Prospects of China's continued integration...