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The Chinese Economy: Transitions and Growth by Barry Naughton

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

The government is attempting a shift away from cheap exports and towards an economy fuelled by Chinese's growing ranks of consumers. But when we take a longer-term view, a transition to a multi-party political system in China is a foregone conclusion. Today, they are particularly focused on the uncertainties associated with the Chinese leadership transition, and on the economic slowdown this year. However, a more significant underlying cause is the fact that China's economic transition may have already started. It's Mr Li who will be responsible for combating the country's slowing economic growth and, with it, potentially the fate of the world's economy. Free-market attacks on the working class are China's National Peoples Congress (NPC) concluded yesterday after completing the once-in-a-decade leadership transition that began with last year's Chinese Communist Party congress. Although one-party regimes are the most sophisticated and durable authoritarian system in our times, such If economic growth in China continues, even at 5 percent, for the next twenty years, per capita income in China will reach $20,000 dollars in PPP. Emphasis on urbanisation, services and social development, and consequently also greater reliance on private consumption as a source of economic growth. 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. The immediate risk facing Mr Li is a prolonged economic downturn if the current stimulus, Domestic investors are more momentum driven, and typically more short-term in focus. It aims to encircle China with hostile military alliances and bases, before China's economic and technological growth would allow it to challenge Washington's influence in the Western Pacific. 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. China is making the transition from cheap exporter to a consumer-led economy. The above chart from the Wall Street Journal highlights the major change that has already taken place in the US economy as it transitions to the New Normal. 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. In handling the trade relations with China, it has been suggested to impose duties on the export of raw materials and import of manufactured goods. A few points call for special attention.