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The Chinese Economy: Transitions and Growth Barry Naughton
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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 country's balance sheet continues to deteriorate – and the most recent growth spurt implies faster deterioration – and this, ultimately, is the main constraint of the Chinese growth model." SHCOMP vs HSI or Industrial Output vs Doing so of course will only make the adjustment longer and more painful, but given how difficult politically the transition to a balanced economy is likely to be, we would be crazy to expect otherwise. China also needs to shift its economy away from energy-intensive sectors, like the country's fast-growing, mammoth steel industry, and toward more energy-efficient, high-tech, and service industries. That question has been front and center in the past weeks as the country completes its leadership transition and after the exposure of its various real estate bubbles during a widely watched 60 Minutes exposé this past It would also mean a collapse of Chinese imports of materials such as copper, which would in turn harm economic growth in emerging countries that continue to be a prime market for American, Asian and European goods. Chinese premiere Wen Jiabao has made clear that stabilizing China's economic growth is a priority and markets are likely to be positive on this GDP data since they now expect more policy easing measures. 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. Economic growth hopefully will bring more freedom to China's people. He feels that the US downgrade may lead to an acceleration of the economic transition in China. Emphasis on urbanisation, services and social development, and consequently also greater reliance on private consumption as a source of economic growth. I have been reading The Chinese Economy: Transitions and Growth by Barry Naughton. The lights are flickering in the world's economic powerhouse. To make matters worse, this leadership transition was occurring while the Chinese economy stumbled. Address to the Africa Down Under Conference Perth. GDP growth rates, beginning in the middle of 2011, began to falter. SPEECH – CHINESE ECONOMIC GROWTH AND IMPLICATIONS FOR THE AUSTRALIAN ECONOMY. At a minimum it'll allow more of its citizens to buy widgets that help them get around the Great Firewall. 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. Today, China Of course, China will bear significant transition costs with factory closures and job losses in these industries, but such restructuring can help expand labor-intensive and greener sectors, such as health care, tourism, and professional services. Ronald Coase on China's Transition to Capitalism · Ilya Somin • January In the new millennium, the Chinese economy has kept its growth momentum and become more integrated with the global economy. The diminishing advantage of low-cost factors and the declining FDI in China indicates that both the country's current export model and its mode of economic growth are at a turning point.