China S Challenges In Moving Towards A High Income Economy

Author : Ligang Song,Yixiao Zhou
Publisher : ANU Press
Page : 248 pages
File Size : 50,7 Mb
Release : 2021-09-02
Category : Business & Economics
ISBN : 9781760464530

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China’s Challenges in Moving towards a High-income Economy by Ligang Song,Yixiao Zhou Pdf

With its per capita income surpassing US$10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential. Besides these constraints, the year 2020 saw human societies hit heavily by the COVID-19 pandemic and the global economy caught off guard and dipped into recessions caused by lockdown measures for controlling the spread of the pandemic. Nations around the world have experienced grave loss of human life and lockdown measures have knocked economies from their normal growth trajectories. Even as the pandemic continues to unfold, all signs point to China as being the first major economy to have emerged out of the crisis. But many questions remain. Has the Chinese economy emerged from the pandemic crisis relatively unscathed? What are the long-term prospects for its economy? This year’s Update book, China’s Challenges in Moving towards a High-income Economy, explores the challenges faced by the Chinese economy in the transition towards a high-income economy, including agricultural development, finance and fiscal system reform, RMB internationalisation, trends in urbanisation, as well as topics related to innovation, corporate sector development and market competition. China’s growth experience has been full of exciting changes and important lessons for reform and structural changes, and this year’s China Update is again the way to gain insights into these.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 153 pages
File Size : 44,7 Mb
Release : 2017-06-01
Category : Business & Economics
ISBN : 9789292578046

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Transforming Towards a High-Income People's Republic of China by Asian Development Bank Pdf

The People's Republic of China (PRC) has experienced stellar economic performance over the last 3 decades. Gross domestic product growth has averaged 10% per year. Per capita income has increased by a factor of 13. Life expectancy at birth increased from 67 to 73 years. Rapid growth, however, has posed eight challenges for the PRC: industrial transformation, balanced rural-urban development, human resource transformation, environmental protection, climate change mitigation, water security, subnational debt management, and further integration with the international economic system. In 2013, the Asian Development Bank helped the PRC prepare the 13th Five-Year Plan 2016-2020. This report summarizes key issues and recommends practical policy options to address the PRC's challenges.

Author : Juzhong Zhuang,Paul Vandenberg,Yiping Huang
Publisher : Edward Elgar Publishing
Page : 592 pages
File Size : 51,7 Mb
Release : 2015-02-27
Category : Business & Economics
ISBN : 9781783477708

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Managing the Middle-Income Transition by Juzhong Zhuang,Paul Vandenberg,Yiping Huang Pdf

The growth model of the People�s Republic of China (PRC) has been based on high investment and exports, a low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income

Author : Shigesaburo Kabe,Ryuichi Ushiyama,Takuji Kinkyo,Shigeyuki Hamori
Publisher : World Scientific
Page : 268 pages
File Size : 42,5 Mb
Release : 2016-03-07
Category : Business & Economics
ISBN : 9789814725187

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Moving Up The Ladder: Development Challenges For Low And Middle-income Asia by Shigesaburo Kabe,Ryuichi Ushiyama,Takuji Kinkyo,Shigeyuki Hamori Pdf

Besides export expansion, a growing middle class in Asia has contributed to the area's economic expansion, providing Asian countries with a window of opportunity to leap from low/middle income levels to high income levels. It may sound easy for these countries to run up the ladder of economic growth, but the potential risks of quickly shifting from low/middle to high income levels are often overlooked. Careful studies in history reveal that the experience of moving up the ladder of economic growth has varied among countries.This book explores (1) the current state of Asian economies and 2) the conditions or policy counter-measures that lead to higher income levels under changing external circumstances. This is illustrated through case studies on five Asian economies, with emphasis on their structural problems. It also aims to paint a comprehensive picture of necessary policies, which will encourage Asian countries to move up the ladder of growth.

Author : Asian Development Bank
Publisher : Unknown
Page : 58 pages
File Size : 43,7 Mb
Release : 2017
Category : Social Science
ISBN : 9292578030

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Transforming Toward a High-income People's Republic of China by Asian Development Bank Pdf

"Publication stock no. TCS178745-2"--Verso of title page.

Author : Fang Cai
Publisher : Springer Nature
Page : 229 pages
File Size : 49,6 Mb
Release : 2024-06-16
Category : Electronic
ISBN : 9789819991419

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Challenges and Solutions to China’s Modernization Process by Fang Cai Pdf

Author : Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston
Publisher : ANU Press
Page : 545 pages
File Size : 40,9 Mb
Release : 2016-07-21
Category : Business & Economics
ISBN : 9781760460358

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China's New Sources of Economic Growth: Vol. 1 by Ligang Song,Ross Garnaut,Cai Fang,Lauren Johnston Pdf

China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

Author : Shaojie Zhou,Angang Hu
Publisher : Palgrave Macmillan
Page : 218 pages
File Size : 46,7 Mb
Release : 2020-10-06
Category : Business & Economics
ISBN : 9811565392

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China: Surpassing the “Middle Income Trap” by Shaojie Zhou,Angang Hu Pdf

This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

Author : Bei Jin
Publisher : Paths International Ltd
Page : 307 pages
File Size : 53,5 Mb
Release : 2016-07-31
Category : Business & Economics
ISBN : 9781844644735

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China's Economy Amid New Challenges by Bei Jin Pdf

This book is a collection of some recent of the best articles by China Economist and it represents top Chinese economists major research outcomes and opinions on economic matters, status and trends from various perspectives. Some work with China's highest academic research institutes and policy consultation agencies, while others work with related agencies and universities. Hence, this book largely reflects the key concerns and efforts of economic research institutes, policy advisory agencies, regulatory policy research departments and universities on China's economy.From the launching of reform and opening-up in 1978 to the dawn of the 21st century, China has been transformed from a self-enclosed, planned economy to a market-based one, and the country has integrated itself into the international community. China wishes to look beyond its border and engage in equal-footed dialogue with its partners and competitors. With China's rapid emergence and great achievements, other countries increasingly want to learn more about this "e;mysterious oriental country"e; and the miraculous changes taking place here. However, we have also found that abroad, the public, high-ranking officials and even media and academia may not have a clear picture of China. Chinese scholars views on their country and beyond are not well understood by foreign scholars, not to mention people in the street, and overseas officials and scholars do not appreciate China's realities. Legitimate claims and well intentioned expressions from China are often misunderstood or distorted by the media, and it seems that the world is unprepared for a changing China. China needs to know itself and the outside world, and the world needs to have a closer look at China as well. Research on the China phenomenon and its implications has become topical around the world. Hence, developing diversified channels and platforms of communication is necessary both in China and the outside world.In this book, which includes dozens of articles written by Chinese economists and researchers, authors wish to tell the world a truth: Although China has become the world's second largest economy, its GDP per capita is very low. China remains a developing country, and development is its top priority and the basis for all welfare programs. The rights of development are basic human rights upon which China cannot waiver. Development is the best gift China has to offer to the world. Meanwhile, Chinese scholars should also recognize that China must deepen reform and expand opening-up, balance efficiency with fair income distribution, use resources in more efficient, refined and clean ways, and challenge its enterprises to assume more social responsibilities. Only in this way can China complete its historic transition from a developing country to a mature, modernized country.

Author : Mr.Malhar Nabar,Papa M'B. P. N'Diaye
Publisher : International Monetary Fund
Page : 21 pages
File Size : 42,6 Mb
Release : 2013-10-02
Category : Business & Economics
ISBN : 9781484354957

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Enhancing China’s Medium-Term Growth Prospects by Mr.Malhar Nabar,Papa M'B. P. N'Diaye Pdf

China’s current growth model—which has delivered steady and robust growth for two decades and lifted some 500 million individuals out of poverty—has become too reliant on credit and investment, and has begun to experience diminishing returns. Delays in advancing the government’s reform agenda will mean that vulnerabilities continue to grow and the probability of stalled convergence increases. On the other hand, with reforms to accelerate TFP growth and shift the economy away from its continued reliance on capital accumulation, China can grow at a healthy pace and maintain its convergence toward the level of high income economies. Evidence from China’s provinces indicates that there is room to improve productivity and sustain such a convergence toward the level of more prosperous economies.

Author : Mr.Malhar Nabar,Papa M'B. P. N'Diaye
Publisher : International Monetary Fund
Page : 20 pages
File Size : 41,9 Mb
Release : 2014-04-21
Category : Business & Economics
ISBN : 9781484357699

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Enhancing China’s Medium-Term Growth Prospects by Mr.Malhar Nabar,Papa M'B. P. N'Diaye Pdf

China’s current growth model— which has delivered steady and robust growth for two decades and lifted some 500 million individuals out of poverty—has become too reliant on credit and investment, and has begun to experience diminishing returns. Delays in advancing the government’s reform agenda will mean that vulnerabilities continue to grow and the probability of stalled convergence increases. On the other hand, with reforms to accelerate TFP growth and shift the economy away from its continued reliance on capital accumulation, China can grow at a healthy pace and maintain its convergence toward the level of high income economies. Evidence from China’s provinces indicates that there is room to improve productivity and sustain such a convergence toward the level of more prosperous economies.

Author : Alan Greenspan
Publisher : Student Study Guides
Page : 78 pages
File Size : 52,8 Mb
Release : 2019-01-21
Category : Electronic
ISBN : 1643542524

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China's Economy by Alan Greenspan Pdf

Since initiating market reforms in 1978, China has shifted from a centrally-planned to a more market-based economy and has experienced rapid economic and social development. GDP growth has averaged nearly 10 percent a year--the fastest sustained expansion by a major economy in history--and has lifted more than 800 million people out of poverty. China reached all the Millennium Development Goals (MDGs) by 2015 and made a major contribution to the achievement of the MDGs globally. Although China's GDP growth has gradually showed since 2012, it is still impressive by current global standards. With a population of 1.3 billion, China is the second largest economy and is increasingly playing an important and influential role in development and in the global economy. China has been the largest single contributor to world growth since the global financial crisis of 2008. Yet China remains a developing country (its per capita income is still a fraction of that in advanced countries) and its market reforms are incomplete. According to China's current poverty standard (per capita rural net income of RMB 2,300 per year in 2010 constant prices), there were 55 million poor in rural areas in 2015. Rapid economic ascendance has brought on many challenges as well, including high inequality; rapid urbanization; challenges to environmental sustainability; and external imbalances. China also faces demographic pressures related to an aging population and the internal migration of labor. Significant policy adjustments are required in order for China's growth to be sustainable. Experience shows that transitioning from middle-income to high-income status can be more difficult than moving up from low to middle income.

Author : Peilin Li
Publisher : World Scientific
Page : 248 pages
File Size : 48,5 Mb
Release : 2013-12-26
Category : Social Science
ISBN : 9789814522274

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People's Livelihood in Contemporary China by Peilin Li Pdf

Since being established in 1949 — and especially since the reform and opening up 30 years ago — China has experienced the most drastic changes ever in its 5000-year history. During this period, China has transformed from an agricultural society into an emerging, dynamic, and industrialized nation and has undergone rapid urbanization. The standard of living of the Chinese continues to rise and is taking rapid strides forward to a higher level of comprehensive well-being. China's development over the past 60 years has indicated that the livelihood of the people is a key factor in economic and social construction in contemporary China. Having sufficient food and clothing is the first step in improving the livelihood of the people. A higher level of well-being can be achieved only after the basic needs are met. This “higher level of well-being” comprises of employment as the foundation, education as the key point, income distribution as the source, social security as the support, and public safety as an assurance. This book offers fresh perspectives by prestigious scholars from the Chinese Academy of Social Sciences. Based on a unique source of data which is available only to Chinese scholars, this book showcases key issues on people's livelihood and social construction in Contemporary China, including income disparity, social security system, employment situation, post-80s generation and so on. Contents:Introduction: The Changing Chinese Society (Li Peilin)The People's Livelihood in China (Li Peilin and Li Wei)China in the Mass Consumption Stage (Tian Feng)Characteristic and Change of Current Employment (Fan Lei)Urban and Rural Residents' Social Security (Zhang Liping)Urban and Rural Residents' Social Support (Diao Pengfei)Evolution Process and the Trend of Income Differential (Chen Guangjin)Children of the Reform and Opening Up (Tian Feng) Readership: Undergraduates, graduates, academics and researchers who are interested in issues on people's livelihood and social construction in Contemporary China, including income disparity, social security system, employment situation and so on. Keywords:Livelihood;Social Construction;People's Livelihood;Urban and Rural Residents;Mass Consumption;Employment;Social Security;Social Support;Chinese General Survey;New Growth StageKey Features:Fresh Chinese perspectives by prestigious scholars in Chinese Academy of Social Sciences, based on unique sources of data which is available only to Chinese scholarsFirst English book based on the data collected in the Chinese General Social Survey (CSS)Elaborates key issues on the Chinese society from the perspective of people's livelihoodReviews: “A major book to understand the next contemporary Chinese society.” Professor Laurence Roulleau-Berger ENS LSH / Université Lumière Lyon 2

Author : Shaojie Zhou,Angang Hu
Publisher : Springer Nature
Page : 230 pages
File Size : 42,9 Mb
Release : 2020-10-02
Category : Business & Economics
ISBN : 9789811565403

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China: Surpassing the “Middle Income Trap” by Shaojie Zhou,Angang Hu Pdf

This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

Author : Scott Rozelle,Natalie Hell
Publisher : University of Chicago Press
Page : 242 pages
File Size : 54,8 Mb
Release : 2020-09-29
Category : Business & Economics
ISBN : 9780226740515

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Invisible China by Scott Rozelle,Natalie Hell Pdf

A study of how China’s changing economy may leave its rural communities in the dust and launch a political and economic disaster. As the glittering skyline in Shanghai seemingly attests, China has quickly transformed itself from a place of stark poverty into a modern, urban, technologically savvy economic powerhouse. But as Scott Rozelle and Natalie Hell show in Invisible China, the truth is much more complicated and might be a serious cause for concern. China’s growth has relied heavily on unskilled labor. Most of the workers who have fueled the country’s rise come from rural villages and have never been to high school. While this national growth strategy has been effective for three decades, the unskilled wage rate is finally rising, inducing companies inside China to automate at an unprecedented rate and triggering an exodus of companies seeking cheaper labor in other countries. Ten years ago, almost every product for sale in an American Walmart was made in China. Today, that is no longer the case. With the changing demand for labor, China seems to have no good back-up plan. For all of its investment in physical infrastructure, for decades China failed to invest enough in its people. Recent progress may come too late. Drawing on extensive surveys on the ground in China, Rozelle and Hell reveal that while China may be the second-largest economy in the world, its labor force has one of the lowest levels of education of any comparable country. Over half of China’s population—as well as a vast majority of its children—are from rural areas. Their low levels of basic education may leave many unable to find work in the formal workplace as China’s economy changes and manufacturing jobs move elsewhere. In Invisible China, Rozelle and Hell speak not only to an urgent humanitarian concern but also a potential economic crisis that could upend economies and foreign relations around the globe. If too many are left structurally unemployable, the implications both inside and outside of China could be serious. Understanding the situation in China today is essential if we are to avoid a potential crisis of international proportions. This book is an urgent and timely call to action that should be read by economists, policymakers, the business community, and general readers alike. Praise for Invisible China “Stunningly researched.” —TheEconomist, Best Books of the Year (UK) “Invisible China sounds a wake-up call.” —The Strategist “Not to be missed.” —Times Literary Supplement (UK) “[Invisible China] provides an extensive coverage of problems for China in the sphere of human capital development . . . the book is rich in content and is not constrained only to China, but provides important parallels with past and present developments in other countries.” —Journal of Chinese Political Science