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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

I think of China's growth model as merely a more muscular version of the Japanese or East Asian growth model, which is itself partly based on the American experience. Philip highlights three mutually reinforcing paths of transformation ahead in the Chinese economy. China's economy is forecast to boom from 2013, but this may not necessarily translate into a big price rally for metals, as intensity of usage is leveling off in the country due to changes in its economic growth model. Recent years, it is a hot topic that if China's economy can keep growing rapidly. Naughton's most recent book is The Chinese Economy: Transitions and Growth, a comprehensive survey of the Chinese economy. First, a structural slowdown of growth looks clearly to be in the cards. Can China's economy keep growing despite recent slowdowns? One of the key challenges facing China's new leaders will be how to keep the world's second largest economy on track. Amidst increased domestic concern over inequality and corruption, GFI's study raises serious questions about the stability of the Chinese economy merely two weeks before the once-in-a-decade leadership transition. Economic reform is back on the agenda,” said Barry Naughton, author of the 2006 book “The Chinese Economy: Transitions and Growth” and a professor at the University of California at San Diego. Since its departure from Communism and the liberalization of its economy, China has experienced extremely high economic growth rates, raised hundreds of millions of people out of poverty, and has become a central component of the global economy due to its high degree of integration and essential role in the supply chain (Sachs, 2005, 165-169). While these high savings have undoubtedly been good for China's economic growth, they have not necessarily been good for the global economy: the excess of domestic savings over investment has fuelled China's current account surpluses and the United States' current account deficits, leading Jane Golley is an economist focused on a range of Chinese transition and development issues and an Adjunct Director of the Australian Centre on China in the World. The volume of trade misinvoicing between mainland China and the United States rose to US$72.0 billion before the financial crisis of 2008, but has declined since then, probably as a result of lower growth in bilateral trade between the countries. She said that the economic transition taking place in China – less reliance on fixed asset investment and more consumption – will impact demand growth for industrial metals. Naughton, Barry, 2007, The Chinese Economy Transitions and Growth, Boston, Massachusetts: MIT Press. China's consumer-led growth means that China's economy is experiencing the transition from investment-led style. The lights are flickering in the world's economic powerhouse. 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. €�No one can forecast with confidence the future of the Chinese economy,” he said.