Notes of "China and Economic Cooperation in the Asia-Pacific Region"

^* Adviser to TDRI's International Economic Relations Program.

^** Research Associate with TDRI's Thailand and Economic Cooperation in the Asia-Pacific Project.

¹ Asian Development Report, 1991, Asian Development Bank, Manila, 1991, p. 56.

² Lardy, Nicholas, "China and Asia-Pacific Economic Cooperation," in John P. Hardt and Young C. Kim, eds., Economic Cooperation in the Asia-Pacific Region, Boulder: Westview Press, 1990, p. 105.

³ It is worth noting that high rates of inflation are especially worrisome to the Chinese leadership because the hyperinflation experienced during World War II was a major factor contributing to the downfall of the nationalist regime.

⁴ The World Bank, 1990, "China: Between Plan and Market," Washington D.C., p. 4.

⁵ Ibid., p. 3.

⁶ Goldstein, Carl, "China's Generation Gap: Massive Power Programme Fails to Match Soaring Demand," Far Eastern Economic Review (hereafter FEER), June 11, 1992, pp. 45-47.

⁷ Tai Ming Cheung, "Pushing the Pendulum: Deng Leads China's Economic Reformers Against Party Diehards," FEER, April 9, 1992, p. 47.

⁸ Far Eastern Economic Review 1992 Yearbook, p. 103.

⁹ Goldstein, Carl, "Opening Doors: Southern China Eyes Booming Domestic Markets," FEER, April 2, 1992, p. 77.

¹⁰ Kaye, Lincoln, "Mortal State," FEER, July 2, 1992, p. 17.

¹¹ Deng has since toned down his stand by calling for faster growth only in economically strong enterprises and regions—i.e., the coastal provinces.

¹² Kaye, Lincoln, "Sitting on the Fence: Premier's NPC Speech Plays Down Reforms," FEER, April 2, 1992, p. 13.

¹³ Tai op. cit., April 9, 1992, pp. 46-47.

¹⁴ The value of the Renminbi weakened from Rmb. 3.72 = $1 to Rmb. 4.72 = $1. Today the currency is worth Rmb. 5.4 = $1.

¹⁵ Tai, op. cit., April 9, 1992, pp. 46-47.

¹⁶ Wang Jisi, "China in a Changed Global Environment," Kuala Lumpur: Institute of Strategic and International Studies (ISIS), 1990, p. 16.

¹⁷ Statement made by Gary Coull, managing director of Credit Lyonnais Securities in Hong Kong. Cited in Friedland, Jonathan, "Bulls in a China Shop: Fund Managers Cash in on Market Opening," FEER, April 9, 1992, p. 47.

¹⁸ Lardy, op. cit., 1990, p. 106.

¹⁹ World Bank, op. cit., 1990, pp. 84-85.

²⁰ The value of imports dropped by 11 percent in nominal terms during this period, while exports grew by 18 percent. See Asian Development Report 1991, Asian Development Bank, Manila, 1991, p. 54.

²¹ Beijing Review, March 20-26, 1989, pp. 15-17. Cited in Lardy, op. cit., 1990, p. 104.

²² Shen Guijin, "Trends and Proposals with Regard to China's Policy Toward Pacific Economic Cooperation," Social Science, Shanghai, 1987, No. 10, pp. 12-15, reprinted in Shijie Jingji (World Economy), 1987, No. 12, pp. 57-60. Cited in Lardy, op. cit., 1990, pp. 103-104.

²³ See Lardy, op. cit., 1990, pp. 104-105.

²⁴ To overcome the deadlock over who should join first—Beijing was unwilling to accede to APEC simultaneously with Taipei because this would account to a de facto recognition of "two Chinas"—it was agreed that China would actually sign the accession documents just before Taiwan.

²⁵ Far Eastern Economic Review 1992 Yearbook, p. 204. Aside from twice as many projects being registered than had been predicted, what surprised economic ministry officials was the fact that most of the projects were located in Guangdong province, rather than in Fujian—which is culturally and physically closer to Taiwan.

²⁶ See Lin, Richard C., "The Current Situation of Taiwan Investment in ASEAN," a paper presented at the Taiwan-Thailand Investment Seminar, Taipei, 1991.

²⁷ Baum, Julian, "Good Neighbors: Taipei Overcomes Another Barrier to Mainland Ties," FEER, April 23, 1992, pp. 32-33.

²⁸ Callo, Kathleen, "Hanoi Disputes Beijing's Islands Claim," The Nation, July 3, 1992.

²⁹ The Nation, November 5, 1991, p. A8.

³⁰ As an adequate number of senators have been behind the president on his China policy, Republicans in the House of Representatives have voted for trade sanctions—politically most expedient—knowing that they would not get by the Senate after being vetoed.

³¹ Wong, John, "An Overview of ASEAN-China Economic Relations," in Chia Siow-Yue and Cheng Bifan, eds., ASEAN-China Economic Relations: Trends and Patterns, Singapore: Institute of Southeast Asian Studies and Institute of World Economics and Politics, 1987, p. 7.