Economic Reform in Asia

Economic Reform in Asia

China, India, and Japan

Sara Hsu

Economic Reform in Asia compares and analyzes the reform and development patterns of China, India, and Japan from both historical and developmental perspectives. Sara Hsu specifically focuses on China’s reform and opening-up in 1979, India’s accelerated liberalization in 1991, and the outset of the Meiji Restoration in Japan in 1878. This detailed overview of growth patterns in Asia’s largest economies is invaluable, especially in its determination to understand which development policies work, what role institutions play in development, and what issues may arise during said development.

Chapter 4: The waking giant: China’s development trajectory

Sara Hsu

Subjects: asian studies, asian development, asian economics, economics and finance, asian economics

Extract

By contrast to Japan, China was a nation rich in natural resources at the outset of reform. China contains resources such as coal, zinc, copper, tin, and mercury. China is also large in geographical area, and is about the size of the United States, although China is more mountainous. The nation has a long coastline, while the western region is landlocked. Elevation rises to the west of the Aihui–Tengchong line; therefore, much of the population lives to the east of this line, where far more of the land is arable (Naughton 2007). China (Figure 4.1) is divided into 31 administrative divisions, with 22 provinces, 5 autonomous regions, and 4 municipalities under direct control of the central government. Western provinces face barriers to development due to their geography, including lack of access to transportation and water, as well as lack of access to energy resources in the south-west, and poor agricultural climate in the north-west. Much of China’s development has taken place in the eastern coastal region, which through its waterborne shipping routes has easy access to foreign markets.

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