Is the Chinese Economy a Miracle or a Bubble?

The New Era will be transformative of the Chinese economy. China will join the ranks of developed economies of the world. This book presents a collection of articles by Professor Lawrence Juenyee Lau from 1994 to 2018, discussing Chinese economic development over the past decades. With empirical findings, the author identifies the sources of Chinese economic growth and scrutinizes the role of government in development at various stages. Based on comprehensive account of China's macro-economy, the author answers the question of whether Chinese economic growth is an extraordinary "miracle" or merely an implausible economic "bubble."