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The Chinese Economy: Transitions and Growth by Barry Naughton

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

On the side of western-style democracy stood Minxin Pei, the director of the Keck Center for International and Strategic Studies at Claremont McKenna College and author of China's Trapped Transition: The Limits of Developmental Autocracy in which Pei examines the sustainability of the Chinese On the economic front, China's growth has been driven by investments at home and exports to developed countries—trends that are not sustainable in the long run. China's growing military capabilities now threaten to upset that order in ways that, ironically, could complicate China's security environment at the same time as slowing economic growth intensifies its internal challenges. The slowdown is expected as the China's economy is in transition and growth of 10 percent is not likely to be seen as the country is shifting from a low-income nation to a middle-income one. If China is able to implement a smooth transition to the democracy (that did not occured in the USSR), i predict that china will attain the "technological frontier" somewhere near the year 2050. The lights are flickering in the world's economic powerhouse. €�Conversely, exporters of agricultural products, such as According to Six, a rapid shift could cause a steeper decline in China's overall GDP and import growth rates, leading to a fall in SSA commodity exports to the country. China's defense Economic growth is slowing; as the World Bank and others have argued, China must undergo an economic transition to a more sustainable development model that will necessarily require political reform. €�China's growth rate has exceeded 10% while the inflation rate has been kept below 3% for four years running. 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. 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. Recent signs show that the Chinese economy, which has maintained double-digit growth for three decades, is slowing down. GDP growth rates, beginning in the middle of 2011, began to falter. This is rare both in China and the world. China recorded its last double-digit growth in 2010. The S&P's report, “For sub-Saharan Africa, China's rebalancing poses risks and opportunities”, indicated agricultural exports from Ghana stands to gain from the new China economic transition. To make matters worse, this leadership transition was occurring while the Chinese economy stumbled. €�No one can forecast with confidence the future of the Chinese economy,” he said. Starting with the opening of agriculture to private incentives in the late 1970s, China has experienced faster and more prolonged economic growth than any other country. In a mere three decades China has moved from a to Germany (1.28%/ year).