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A defining moment? China's social policy response to the financial crisis
Author(s) -
de Haan Arjan
Publication year - 2010
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.1726
Subject(s) - china , financial crisis , legitimacy , social unrest , unrest , economics , politics , stimulus (psychology) , development economics , political science , political economy , macroeconomics , law , psychology , psychotherapist
This paper discusses whether China's response to the 2008–2009 financial crisis is a ‘defining moment’, whether it is leading to a departure of China's export‐driven development model and whether the large stimulus package is strengthening its social policies and leading towards a more egalitarian structure. Two years after the crisis, it seems China has been very successful in managing the crisis, reaffirming political legitimacy, monitoring potential social unrest and introducing a wide range of promotive measures, even though this did not imply the sudden shift to promotion of household consumption some observers were arguing for. Copyright © 2010 John Wiley & Sons, Ltd.