Is the Chinese Economy a Miracle or a Bubble?
Lawrence Juen-yee Lau
By Lawrence Juen-yee Lau
About the BookThis book presents a collection of articles by Professor Lawrence Juen-yee Lau from 1994 to 2018, discussing Chinese economic development over the past decades. With empirical findings, the author evaluates the relative importance of different sources of growth for the Chinese economy and scrutinizes the strategy of reform and development at various stages. Based on a comprehensive account of China’s macroeconomy, the author addresses the question of whether Chinese economic growth is an extraordinary “miracle” or an implausible economic “bubble.”
Lawrence Juen-yee Lau is Ralph and Claire Landau Professor of Economics at and former vice chancellor of The Chinese University of Hong Kong.
I found his reasoning fascinating and his arguments that other countries can replicate the Chinese experience to facilitate their own development sound and well-reasoned. This book will be read and discussed by scholars and practitioners interested in a better understanding of the road to economic development. - Myron Scholes, Stanford University