THE NEW NORMAL OF THE CHINESE ECONOMY

Univerzitet u Istočnom Sarajevu, Fakultet poslovne ekonomije Bijeljina, BiH
Bosnia and Herzegovina

Univerzitet u Istočnom Sarajevu, Fakultet poslovne ekonomije Bijeljina, BiH
Bosnia and Herzegovina


Abstract

In this essay, we will consider the notion of China's new normality in the world of Chinese economic reforms, with the aim of indicating some factors of its incredible economic success in the world of globalization and China's macroeconomic stability. There is no easy or simple explanation of the so-called the Chinese economic miracle if all economic advantages, modern capitalism and the reception of its ideas of organization and institutions are not taken into account. Chinese development cannot be explained without Chinese culture and Confucian philosophy. In the paper, we will consider: China's economic normality, China's economic reform, China's labor policy, state planning function, China's macroeconomics, China's urban housing fund, the development of the Chinese stock market as a market and factors that determine the exchange rate in the long term.

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