CCCH9007 China: Culture, State and Society

China in the Global Economy

[This course is under the thematic cluster of ‘Sustaining Cities, Cultures, and the Earth’.]


Course Description

This course examines how China has grown into the second largest economy in the world and how it has been integrated into the market-oriented global trade, investment and financial systems.

The course helps students to understand the dynamics of China’s evolving governance/growth model and its implications for the global economy, focusing particularly on the interactions between China’s domestic reform and the opening of its trade, investment and financial sector. Topics include how cross-border trade and investment and decentralization of economic management to local governments turned China into a global manufacturing powerhouse, how investment in infrastructure and liberalization of product and input markets led to rapid urbanization, and how rapid growth created new challenges such as corruption, pollution, inequality, excessive debts, over-capacity, bubbles in property and financial markets, imbalance in trade, stress of US-China economic relations, and issues about macroeconomic management and RMB.

Course Learning Outcomes

On completing the course, students will be able to:

  1. Articulate useful perspectives about the rapid growth of the Chinese economy since 1978 and its gradual integration into the global trade, investment and financial systems.
  2. Appreciate the relations and interactions between China’s domestic economic reform and its opening to the global economic communities.
  3. Analyze the impacts of China’s economic development on the global economy in terms of challenges and opportunties to individuals, companies, and countries around the world.
  4. Identify and communicate the social and economic problems China faces in its quest for modernization and possible solutions so as to facilitate better actions for global prosperity.

Offer Semester and Day of Teaching

Course will be offered twice:
Section 1 – First semester (Wed); Section 2 – Second semester (Wed)


Study Load

Activities Number of hours
Lectures 24
Tutorials 10
Reading / Self-study and preparation for tutorials 50
Assessment: Report writing 18
Assessment: Presentation (incl preparation) 18
Assessment: In-class test 2
Total: 122

Assessment: 100% coursework

Assessment Tasks Weighting
Tutorials 25
In-class test 20
Written assignment 25
Group presentation 30

Required Reading

  • Kroeber, A. R. (2016). China’s economy: What everyone needs to know. New York: Oxford University Press.
  • Wang, J., & Pomeroy, J. (2016). China and the world: New frontiers, fresh connections. Hong Kong: HSBC Global Research.

Recommended Reading

  • ASIFMA. (2017). China’s capital markets navigating the road ahead. Hong Kong: Asia Securities Industry and Financial Markets Association.
  • Naughton, B. (2017). Is China socialist? Journal of Economic Perspectives, 31(1), 3-24.
  • OECD. (2017). Overview: Assessment and recommendations (extracted from the 2017 Economic Survey of China). Paris: OECD.
  • Oxford Economics. (2017). Understanding the US-China trade relationship. Washington DC: The US-China Business Council.
  • The Economist. (2016). Opening the books: Assessing local government credit risk in China. London: The Economist Intelligence Unit.
  • The Economist. (2017). China’s supply-side structural reforms: Progress and outlook. London: The Economist Intelligence Unit.
  • Xi, J. P. (2016). The Chinese president’s speech at World Economic Forum. Davos: World Economic Forum.
  • Xiao, G., Zhang, Y. S., Law, C. K., & Meager, D. (2016). The future of China: The Foshan model. Beijing: The CITIC Press.

Course Co-ordinator and Teacher(s)

Course Co-ordinator Contact
Professor G. Xiao
School of Business, Faculty of Business and Economics
Tel: 3917 5243
Email: xiaogeng@hku.hk
Teacher(s) Contact
Professor G. Xiao
School of Business, Faculty of Business and Economics
Tel: 3917 5243
Email: xiaogeng@hku.hk