First Time in History

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First Time in History

Van Fleet explores China´s First Time in History phenomenon. Never before in human history have so many people risen so far, so fast, as they have in China since 1978.

Applicants: 97

¥258

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Time commitment:

75min

Pace:

Self-paced

Subject:

Economics

Language:

English

Level:

Introductory

Topic (s):

Macro Economy

About this course

Considering scale, speed and scope, China's macroeconomic rise since 1978, the beginning of the reform and opening era, is a First Time in History phenomenon. Never before in human history have so many people risen so far, so fast. This course starts by exploring the remarkable FTIH phenomenon from its origins in 1978 – the promising socioeconomic factors China enjoyed at the time. Next we consider the socioeconomic revolution through the following decades. We then consider how FTIH is affecting the consumer and socioeconomic environment today, and what it portends for China, and for the world, tomorrow.

What you’ll learn

Introduction to China´s macroeconomic history since 1978
The critical drivers for China´s socioeconomic success - the demographic foundation, the four pillars of future prosperity
An introductory understanding of each of the four decades in China´s development
How the First Time in History phenomenon is affecting China today, especially the younger Chinese consumer and the world of smartphones
What the First Time in History phenomenon suggests is likely in China´s socioeconomic future
What opportunities you have for engagement with China´s economy

About the instructor(s)

John Darwin Van Fleet

Director of Corporate Globalization at Antai College of Economics and Management of Shanghai Jiao Tong University

Syllabus

Session
1

The Origins of China's Rise

Beginning with the 'demographic dividend' China enjoyed by 1978, we consider the epochal developments in autumn of that year, and then review the first decade of China's reform and opening period.
Session
2

The Greatest Migration in Human History

Starting in the late 1980s, eventually more than 250 million rural youth would migrate to the more developed east, primarily for manufacturing jobs. We investigate the causes and effects of this enormous migration.
Session
3

A New Century, A New Model

By 2010, the Great Financial Crisis and the Lewis Turning Point had spelled the end to reliance on low-wage manufacturing for export. China's transition from that model to one more reliant on infrastructure and domestic consumption, which continues today, is a dramatic story of macroeconomic revolution.