This course explores and explains the processes of rapid industrialisation and socio-economic modernisation in China and the Asia Pacific drawing on a historically –comparative institutional approach. Fundamental factors and forces behind the economic transformation are analysed against the background of leading theories of economic development and social change. The course is divided into two parts. 

The first part uses institutional theory to analyse the emergence of the so called East Asian model and its relevance for China. The institutional underpinnings of China’s transformation to market economy are analysed in comparison with previous and contemporary development experiences in the Asia Pacific, from Japan to the ASEAN countries. Themes dealt with include agricultural modernisation and industrial policy and concepts such as developmental state, export-led growth, and growth with equity are applied and critically analysed. 

The second part deals with current trends and forces of globalisation in the Asia Pacific region and China’s role as a leading regional economy. Trade policies, the impact of foreign investments and patterns of regional integration are explored and analysed.