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Assessing the explosion in East Asian growth and the role of "greater China" from the standpoint of Beijing, this book analyzes the prospects for continued high growth and economic reform in the People's Republic of China. Included in the analysis are the impact of economic reforms on state-owned enterprises, and contradictions between economic "openness" and the regulation of foreign investment. The author also discusses the role of external economic relations in China's economic development - particularly with Taiwan, Hong Kong, the United States and Japan.