Zhiwu Chen

This chapter examines China's financial strategies, drawing upon recent and historical experiences, as well as the experience of other countries. The investigation includes the debt-financed growth strategy of modern-day China; financing in the Imperial age; the impact of war reparations from the Sino-Japanese naval war of 1895; levying taxes to solve fiscal crises; policies for alleviating a fiscal crisis; and prospects for China's debt-financed growth.