The significance of China’s development reaches far beyond the country’s domestic concerns. This is due to a variety of factors, among them the country’s rapid growth and development and its increasingly open borders, allowing it to become a member of the regional and international community of states over the last twenty-five years. China is not a major force yet, but its voice is gaining influence. Simultaneously, its development on domestic, regional, and international levels is a huge uncertainty which inheres both potential and risk and is likely best described by the title of Johnny Erling’s book China — der grosse Sprung ins Ungewisse1 (China — the Great Leap into the Unknown). Thereby, the attempts to understand the relevant processes and related prospects often appear to be an endless puzzle which allows for further insight with every piece that can be added, while a certain dimension of mystery remains as China develops further.
KeywordsStock Market Capital Market Bond Market Efficient Market Hypothesis Open Border
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