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The Chinese Economy: Transitions and Growth pdf

The Chinese Economy: Transitions and Growth by Barry Naughton

The Chinese Economy: Transitions and Growth



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


In fact, the economy is already domestically driven, but it's being propped up by government investment spending – uncertain foundations even for a country as cash-rich as China – rather than consumers themselves. Much like the United States, China has an “all of the above” energy strategy: it plans to continue to rely on traditional sources of energy even as it makes the transition to cleaner fuels. 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. In a paper, Li Zuojun, deputy director at the Development Research Center of the State Council (DRC) writes that after 30 years of rapid growth, China is beginning to restructure. The government is attempting a shift away from cheap exports and towards an economy fuelled by Chinese's growing ranks of consumers. This is rare both in China and the world. Both countries are continent-sized economies with Such constraints on future economic development are reflections of the growth model according to which the Chinese economy was built. €China's growth rate has exceeded 10% while the inflation rate has been kept below 3% for four years running. As Chinese data continues to deteriorate, housing continues to show weakness and bad debts rise, some take solace in the fact that this is all part of China's plan to rebalance its economy and cool growth. If China's economic growth rate does not slow significantly, I wouldn't expect a lot of restraint on either side. China is making the transition from cheap exporter to a consumer-led economy.

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