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As part of its WTO accession, China undertook to eliminate certain trade-related investment measures and to open up specified sectors that had previously been closed to foreign investment. New laws, regulations, and administrative measures to implement these commitments are being issued. Major remaining barriers to foreign investment include opaque and inconsistently enforced laws and regulations and the lack of a rules-based legal infrastructure.
As part of its WTO accession, China undertook to eliminate certain trade-related investment measures and to open up specified sectors that had previously been closed to foreign investment. New laws, regulations, and administrative measures to implement these commitments are being issued. Major remaining barriers to foreign investment include opaque and inconsistently enforced laws and regulations and the lack of a rules-based legal infrastructure.
Opening to the outside remains central to China's development. Foreign-invested enterprises produce about half of China's exports, and China continues to attract large investment inflows. Foreign exchange reserves were $1.066 trillion at the end of 2006, and have now surpassed those of Japan, making China's foreign exchange reserves the largest in the world.
Opening to the outside remains central to China's development. Foreign-invested enterprises produce about half of China's exports, and China continues to attract large investment inflows. Foreign exchange reserves were $1.1 trillion at the end of 2006, and have now surpassed those of Japan, making China's foreign exchange reserves the largest in the world.
== History ==
== History ==
{{main|Chinese History}}
Although archaeologists have found settlements in China dating to [[5000 BCE]], the earliest nation that can be dated in the area of modern China is the [[Shang Dynasty]], approximately [[2000 BCE]].
Although archaeologists have found settlements in China dating to [[5000 BCE]], the earliest nation that can be dated in the area of modern China is the [[Shang Dynasty]], approximately [[2000 BCE]].
In addition, China has several religious minorities. [[Islam]] in China is rather moderate, and Chinese Muslims (majority are of [[Hui]] ethnicity) often define their faith in Taoist or Confucian terms, although they do not believe in the supernatural elements of those faiths. [[Christianity]] was suppressed or taken over by the state after 1949. In recent years, the restrictions have eased. However several religious groups that reject governmental control are persecuted, notably the [[Falun Gong]].
In addition, China has several religious minorities. [[Islam]] in China is rather moderate, and Chinese Muslims (majority are of [[Hui]] ethnicity) often define their faith in Taoist or Confucian terms, although they do not believe in the supernatural elements of those faiths. [[Christianity]] was suppressed or taken over by the state after 1949. In recent years, the restrictions have eased. However several religious groups that reject governmental control are persecuted, notably the [[Falun Gong]].
===The Next 5 Years===
===The Next 5 Years===
The next 5 years represent a critical period in China's development. To investors and firms, especially following China's accession to the World Trade Organization (WTO) in 2001, China represents a vast market that has yet to be fully tapped and a low-cost base for export-oriented production. Educationally, China is forging ahead as partnerships and exchanges with foreign universities have helped create new research opportunities for its students. China used the Summer Olympics in 2008 to showcase to the world its amazing gains of the past two decades. The new leadership is committed to generating greater economic development in the interior and providing more services to those who do not live in China's coastal areas, goals that form the core of President Hu's concepts of a "harmonious society" and a "spiritual civilization." However, there is still much that needs to change in China.
The next 5 years represent a critical period in China's development. To investors and firms, especially following China's accession to the World Trade Organization (WTO) in 2001, China represents a vast market that has yet to be fully tapped and a low-cost base for export-oriented production. Educationally, China is forging ahead as partnerships and exchanges with foreign universities have helped create new research opportunities for its students. China used the Summer Olympics in 2008 to showcase to the world its amazing gains of the past two decades. The new leadership is committed to generating greater economic development in the interior and providing more services to those who do not live in China's coastal areas, goals that form the core of President Hu's concepts of a "harmonious society" and a "spiritual civilization." However, there is still much that needs to change in China.
Human rights failures remain a major concern. Abatement of pollution and improvements in systems to ensure food, drug, and product safety are major concerns, especially after notoroius episodes of exporting poisoned petfood, toothpaste and infant formula.
For more information on China, see [[World History Lecture Three]].
== Human Rights ==
Under Mao millions of Chinese were killed by famines or government action against the middle classes. The "Cultural revolution" in the 1960s was a counterattacj against intellectuals endorsed by Mao. Human rights violations have lessened after Mao's death in 1975, and China loosened its restrictions somewhat for the 2008 Summer Olympics. The government arbirarily closes down Internet access to prevent the people from learning about the world/
Human rights failures remain a major concern. Abatement of pollution and improvements in systems to ensure food, drug, and product safety are major concerns, especially after notorious episodes of exporting poisoned petfood, toothpaste and infant formula.
==Further reading==
* Chow, Gregory C. ''China's Economic Transformation'' (2nd ed. 2007) [http://www.amazon.com/Chinas-Economic-Transformation-Gregory-Chow/dp/1405156244/ref=pd_sim_b_img_3 excerpt and text search]
* Eberharad, Wolfram. ''A History of China'' (2005), 380 pages' [http://books.google.com/books?id=5LgjunIn1CEC&printsec=frontcover&dq=intitle:history+intitle:china&num=30&as_brr=1&sig=k1CgHXYb6jQ6BgdwVpUWngov7So full text online free]
* Entwisle, Barbara, and Gail E. Henderson, eds. ''Re-Drawing Boundaries: Work, Households, and Gender in China,'' U of California Press, 2000; on 1990; [http://content.cdlib.org/ark:/13030/kt938nd0k8/?&query=&brand=ucpress complete text online free]
* Fairbank, John King and Goldman, Merle. ''China: A New History.'' Harvard U. Press, 1998. 546 pp.
* Gries, Peter Hays. ''China's New Nationalism: Pride, Politics, and Diplomacy,'' U of California Press, (2004); recent history [http://content.cdlib.org/ark:/13030/kt9290249r/?&query=&brand=ucpress online edition free]
* Naughton, Barry. ''The Chinese Economy: Transitions and Growth'' (2007), important new survey
*Ogden S. (ed) ''China.'' McGraw-Hill/Dushkin. (2006)
* Oi, Jean C. ''Rural China Takes Off: Institutional Foundations of Economic Reform,'' U of California Press, (1999) [http://content.cdlib.org/ark:/13030/ft8j49p1hv/?&query=&brand=ucpress complete text online free]
* Perkins, Dorothy. ''Encyclopedia of China: The Essential Reference to China, Its History and Culture.'' Facts on File, 1999. 662 pp.
* Rawski, Thomas G. and Lillian M. Li, eds. ''Chinese History in Economic Perspective,'' University of California Press, 1992 [http://content.cdlib.org/ark:/13030/ft6489p0n6/?&query=&brand=ucpress online free]
* Roberts, J. A. G. ''A Concise History of China.'' Harvard U. Press, 1999. 341 pp.
* Schoppa, R. Keith. ''The Columbia Guide to Modern Chinese History.'' Columbia U. Press, 2000. 356 pp. [http://www.questia.com/library/book/the-columbia-guide-to-modern-chinese-history-by-r-keith-schoppa.jsp online edition]
* Shambaugh, David. ''Modernizing China's Military: Progress, Problems, and Prospects'' U of California Press, 2003 [http://content.cdlib.org/ark:/13030/kt4779q33t/?&query=&brand=ucpress complete text online free]
* Spence, Jonathan D. ''The Search for Modern China'' (1991), 876pp; well written survey from 1644 to 1980s [http://www.amazon.com/Search-Modern-China-Jonathan-Spence/dp/0393307808/ref=pd_sim_b_title_2 excerpt and text search]; [http://www.questia.com/read/98946348 complete edition online]
* Wang, Ke-wen, ed. ''Modern China: An Encyclopedia of History, Culture, and Nationalism.'' Garland, 1998. 442 pp.
==See also==
==See also==