Greater China and Japan: Prospects for an Economic by Robert Taylor

By Robert Taylor

Modern family among better China and Japan were conditioned either by means of differing responses to the effect of Western colonialism throughout the mid-nineteenth century and the legacy of the chilly struggle. There are mutual suspicions: the chinese language worry of a jap army revival and the japanese trouble over expanding chinese language fiscal festival and territorial ambitions.
Robert Taylor recognises the distrust in Sino-Japanese relatives, but additionally sees shared merits during this ordinarily adverse dating. The chinese language are presently modelling their fiscal method on Japan's developmental adventure, although China's regulations and associations have exact positive aspects and differing agendas. The learn additionally examines the growing to be momentum in the direction of sub-regional integration; contention among better China and Japan is giving strategy to festival among local monetary blocks and company entities.
Greater China and Japan explores the ambiguous courting among the 2 international locations and states that its improvement is essential to the way forward for the quarter within the twenty-first century.

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Extra resources for Greater China and Japan: Prospects for an Economic Partnership in East Asia (Sheffield Centre for Japanese Studies/Routledge Series)

Sample text

Thus the economic reforms initiated in 1979 readjusted the old post-1949 development strategy which had stressed accumulation and neglected consumption, and at the same time abandoned the emphasis on heavy industry. Significantly, one of the first post-1978 reforms was in the rural sector where the break-up of the collectives and concessions to private use of land released the energies of the peasantry, producing high grain yields which, together with a new system of government quota purchases, increased personal incomes in the countryside.

This has meant that while the localities have carried major burdens in implementing national policy within their jurisdiction, the central government initially takes most of the revenue. Thus to ensure equity, financial resources are redistributed through such means as remission of certain centrally collected revenues and subsidies to local governments. That the Chinese leaders are attempting to increase local 36 Japanese development and China’s strategy accountability to the centre is reflected in the tentative steps taken in 1993 to tighten the collection of taxes by such means as preventing regional governments from granting unauthorised exemptions to individuals and enterprises as well as increasing the role of banks in the remission of revenue to the state treasury.

Meanwhile the other three state banks were allowed to expand outside their traditional areas of agriculture, construction and trade finance. Moreover, since the mid-1980s the number of non-banking financial institutions allowed to engage in domestic currency lending and direct investment has proliferated. In addition, the government has already injected an element of competition by granting licences to foreign banks, even though their jurisdiction is limited, as they are barred from domestic business.

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