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The Chinese Economy: Transitions and Growth by Barry Naughton

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

€�No one can forecast with confidence the future of the Chinese economy,” he said. €�China's growth rate has exceeded 10% while the inflation rate has been kept below 3% for four years running. Exports have The transition to a consumption-led economy will be long and bumpy. If China is able to implement a smooth transition to the democracy (that did not occured in the USSR), i predict that china will attain the "technological frontier" somewhere near the year 2050. A few points call for special attention. In a mere three decades China has moved from a to Germany (1.28%/ year). Like most Asian economies, the Chinese government has based its overall growth rate on exports, which is demonstrated in the top chart. This is rare both in China and the world. However, a more significant underlying cause is the fact that China's economic transition may have already started. The country is trying to diversify its economic growth engine from purely exports to an increasingly domestic-oriented economy. Product Description This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a quality and breadth of coverage not found in any other English-language text. China's economic reforms over the past 30 years have transformed a faltering Communist command economy into a global engine of growth. Starting with the opening of agriculture to private incentives in the late 1970s, China has experienced faster and more prolonged economic growth than any other country. McKinsey Quarterly (January 2013): China's economy is starting its historic shift to a more consumption- and service-driven model that should help sustain the country's growth, albeit at a slower rate, over the next decade and beyond. The Chinese economy is undergoing a massive transition.