China's Economy In 1998: Maintaining Growth And Staving Off The Asian Contagion

As the financial crisis swept the Asia-Pacific, China seemed to be the one economy in the region which had been left “largely unaffected” for various reasons, including its strong economic and financial fundamentals as well as its strong political will to defend the Renminbi, which had so far firmly stood the ground. However, China''s economy ended 1998 with only 7.8% growth, slightly falling shor...