China in the realm of the world economy
The Asian fi nancial crisis had a signifi cant and negative impact on the Chinese econo my, which was largely manifested in the evident decrease in demand for China’s exports. Therefore, export-oriented enterprises, especially ones in the coastal regions, shouldered more of the burden brought on by the crisis. In fact, China experienced a marked drop in the growth rate in the value of exports for two consecutive years (1998 and 1999). This drop in turn affected China’s economic growth (see Figures 14.1 and 14.2).