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The Chinese Economy: Transitions and Growth Barry Naughton
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Lardy, an authority on China and its economy, about his book “Sustaining China's Economic Growth After the Global Financial Crisis.” Rebalancing would thus change the sources of demand but not necessarily reduce the long-run rate of economic growth. As the country prepares for only its second organized transfer of power since 1949 the incoming leadership Our hope remains that China's transition to a more sustainable trajectory will be measured, peaceful and as smooth as possible. The Chinese Economy: Transitions and Growth by Barry Naughton. 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. 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. The medium-term growth projections for China and the United States, 5.5 and. Decades of rapid economic growth granted legitimacy to the Chinese Communist Party and helped minimize social unrest. Tions in Subramanian (2011) that illustrated likely Chinese economic dominance, were not predicated on surging Chinese growth and collapsing American growth. 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. Of course, there are frictions, so the transition to the new growth model could reduce growth temporarily. No sane American can wish China ill. The Chinese Economy: Transitions and Growth. Naughton's most recent book is The Chinese Economy: Transitions and Growth, a comprehensive survey of the Chinese economy. The lights are flickering in the world's economic powerhouse. Download The Chinese Economy: Transitions and Growth.