Publication: Performance, Monitoring, and Evaluation in China
Date
2012-09
ISSN
Published
2012-09
Author(s)
Wong, Christine
Abstract
Amidst all the hoopla about China's
rise, it is useful to remember that China is a developing
country whose transition to a market economy is not yet
complete, with institution building still underway. The
uneven pace of progress is reflected in the state of its
public sector, but in some respects, China s public sector
looks formidable. Most often mentioned is the government s
treasure chest of US$3 trillion in foreign reserves. Even
more enviable, government revenues have grown at annual
rates of over 20 percent for a decade (China statistics
2011), fuelling a steep fiscal expansion at a time when so
many countries are being forced to undergo painful
consolidations. The government s reputation was further
burnished in the post-Lehman global financial crisis, when,
after a brief, though sharp, downturn in 2008, China became
the first major economy to return to robust growth,
propelled by a stimulus program that was, in relative terms,
by far the biggest in the world. The bold stimulus and quick
economic recovery seemed to show off an effective public
sector able to implement national policies swiftly.
Citation
“Wong, Christine. 2012. Performance, Monitoring, and Evaluation in China. PREM Notes;No. 23. © World Bank, Washington, DC. http://hdl.handle.net/10986/17083 License: CC BY 3.0 IGO.”