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The Chinese Economy: Transitions and Growth by Barry Naughton

The Chinese Economy: Transitions and Growth Barry Naughton ebook
Page: 504
Format: pdf
Publisher:
ISBN: 0262140950, 9781429455343

Address to the Africa Down Under Conference Perth. The medium-term growth projections for China and the United States, 5.5 and. The Chinese pattern of rapid growth with structural change has been accompanied by rising economic imbalances, just as the main pillars of growth seem to be gradually weakening. Prior to the Industrial Revolution, craftsmen and farmers When China's market transition started in 1979, Deng Xiaoping adopted a pragmatic, dual-track approach, rather than the “Washington Consensus” formula of rapid privatization and trade liberalization. China's consumer-led growth means that China's economy is experiencing the transition from investment-led style. Recent years, it is a hot topic that if China's economy can keep growing rapidly. SPEECH – CHINESE ECONOMIC GROWTH AND IMPLICATIONS FOR THE AUSTRALIAN ECONOMY. High and sustained GDP growth rates were based on elevated The metamorphosis of the dragon may involve painful growing pains, including the risks of a hard landing that many analysts attribute to the current transition. To make matters worse, this leadership transition was occurring while the Chinese economy stumbled. The Chinese economy is undergoing a massive transition. These platform companies borrowed heavily from banks during the stimulus, financing a rapid build out of infrastructure that helped sustain economic growth despite the ongoing global turmoil. Emphasis on urbanisation, services and social development, and consequently also greater reliance on private consumption as a source of economic growth. A slight acceleration in Chinese economic growth at the end of last year is reinforcing the common narrative that China's expansion is a threat to other nations, including the United States. Second, China's leadership transition will turn out to be relatively smooth later this year and the new leadership under President Xi Jinping will continue to embrace the economic transformation project outlined above. When I chat with people about China's economic growth, I often hear a story that goes like this: The main driver's behind China's growth is that it uses a combination of cheap labor and an undervalued exchange rate to create huge trade surpluses. GDP growth rates, beginning in the middle of 2011, began to falter. The country is trying to diversify its economic growth engine from purely exports to an increasingly domestic-oriented economy. Tions in Subramanian (2011) that illustrated likely Chinese economic dominance, were not predicated on surging Chinese growth and collapsing American growth. In my recent book Demystifying the Chinese Economy, I argue that, for any country at any time, the foundation for sustained growth is technological innovation.