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LPS-EC205: China's Economic Growth, Foreign Trade and Investment

(Revised for 2016)

The remarkable economic growth of China in almost the last four decades changes the landscape of the global economy. Such a phenomenal growth is not only important to China, but also to countries through out the world. Recently the Chinese economy has entered its new phase of “new normal”, which is causing a new anxiety in the world. People are eager to understand China’s experiences and what kind of challenges lie ahead. China’s growth also attracts a lot of people from outside China, who want to take advantage of such an opportunity. 

 In this course, we are going to use tools and frameworks from modern economics to analyse the so-called “China miracle” and “new normal”, to understand the basic factors and institutional changes that contribute to China’s economic growth and to examine the forces that will continue to propel China’s growth in the future. We will emphasize the role of international trade and foreign direct investment in the process of China’s economic transition and growth. We will also discuss China’s financial system and innovation system as they become more important to China’s future growth.

 This course will cover a few major themes. (a) What drives China’s economic growth? (b) What are the institutions and policy environments that shape the business environment in China? (3) How can firms and individuals get involved in China's foreign trade and investment and benefit from China’s development?

Teaching Approach

The course consists of lectures, readings, and case discussions to improve the effectiveness of learning. I will pass out an assignment sheet that includes questions on the assigned readings, homework problems and cases in each session. Except case reports, questions and homework solutions are not to be turned in. However, they will serve as the focus of class discussion and should be completed prior to the class.

Full course outline

About the Instructor



Professor Changqi Wu is the Director of Institute of the National High-Tech Zone Development Strategy, the Executive Director, Institute of International Business and Management and the Director of Guanghua-Cisco Leadership Institute, Peking University. Before joining Peking University, he was on the faculty of School of Business and Management, the Hong Kong University of Science and Technology for over ten years. Professor Wu was a visiting scholar at the J.L. Kellogg Graduate School of Management, Northwestern University (1997) and a visiting professor at the Catholic University of Leuven (1998) and the University of Hong Kong (2012-2015).


Professor Wu received his degree of Bachelor of Economics from Shandong University, China (1982). He earned his degree of Master of Business Administration with distinction (1986) and his Doctorate in Applied Economic Sciences (1990) from the Catholic University of Leuven, Belgium. Professor Wu was a recipient of the 1991 Young Economist Essay Competition Award from the European Association for Research in Industrial Economics. He specializes in industrial economics, management strategy, and international business. He has published a number of scholarly books and his research appears in journals in the fields of economics and management, including Rand Journal of Economics, International Journal of Industrial Organization, Review of Industrial Organization, Journal of Management Studies and Journal of World Business. Presently, he is the principle investigator of the major research project: “Chinese Enterprise Outward Direct Investment and Cross-Border Mergers and Acquisitions” funded by the National Science Foundation of China. He leads a research group on Economic, Industrial and Strategic Analysis of the Next Generation Mobile Internet. He serves as the export for the 12th and 13th five-year plan drafting group of the National Major Science and Technology Programs of China.


Professor Wu has served on the editorial boards of the European Management Review and Journal of World Business. He is the Chairman of China Chapter of Academy of International Business. He serves as an expert consultant to the National Development and Reform Commission, Ministry of Commerce and Ministry of Science and Technology of China. Professor Wu has been invited to deliver executive seminars to major corporations, international organizations and government agencies around the world. He sits on the boards of a number of listed companies including Qingdao Haier Co. Ltd.