To memorize right now
Terms in this set (10)
economic theory that compares currencies through market basket of goods approach; 2 currencies in equilibrium when market basket of goods priced the same in both countries
**Corporatization (3 sections)
a) The ministries became regulatory bodies and b) state-owned became commercial enterprises or LLCs, c) service sector choice in being state owned
One country two systems created by/idea
Constitutional principle formulated by Deng Xiaoping; suggested that there would be only one China, but distinct Chinese regions such as Hong Kong and Macau could retain their own capitalist economic and political systems, while the rest of China uses the socialist system.
Nominalexchange rate VS. Real exchange rate
The nominal exchange rate is defined as the number of units of the domestic currency that can purchase a unit of a given foreign currency. By contrast, the real exchange rateis defined as the ratio of the price level abroad and the domestic price level, where the foreign price level is converted into domestic currency units via the current nominal exchange rate.
hukou, or household registration, which permits
routine discrimination against migrants by bureaucrats as well as by urbanites
China's Urbanization rate
by 2015, 56% of the total population lived in urban areas, a dramatic increase from 26% in 1990.
Balance of Payment Accounts
BOP measures all international economic transactions between residents and foreign residents. BOP mainly includes current account, capital account and financial account.
17. China's has reduced the number of rural people below the official poverty line of 2,300 yuan a year at 2010 prices from 775 million to 43 million in 2016. China's goalis to have no one below the official poverty line in the future. Whatshould Chinadoto accomplish this goal? (10 Minutes) - 3 policies
cancel hukou, invest in west, promote consumption
18. Many economistsexamine the development of open macroeconomic policy choices among developing economies fromthe perspective of thetrilemma hypothesis. Use this hypothesis to explain the difficulties China may face in the process of RMB internationalization. (10 minutes)
Chinas capital controls, though porous, increase the transaction costsof moving short-term capital to and from China, thereby reducingupward pressure on the renminbi's exchange rate; in extremecircumstances, this could play a decisive role in Chinas financialsecurity. But capital continues to ow if not entirely freely acrossChinas borders.
Intellectual Property (IP) refers to the protection of creations of the mind, which have both a moral and a commercial value.
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