Growth Without Crisis

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Focusing on the roles of China's financial system as a promoter and stabilizer of the country's economic growth, this title decodes the concept of 30-year economic "crisis-free growth" in China and explores the fiscal and financial reasons for such growth. It also examines China's economic growth through the explanation of the relationship between economic growth, fiscal decentralization, local government behavior and taxation, and the evaluation of the political and economic mechanisms of exchange rate reform.