The Chinese Economy: Transitions and Growth Barry Naughton
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Emphasis on urbanisation, services and social development, and consequently also greater reliance on private consumption as a source of economic growth. 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. 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. In a mere three decades China has moved from a to Germany (1.28%/ year). 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). 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. Many economists have overestimated China's ability to rebound from the global economic slump. Economic growth hopefully will bring more freedom to China's people. €No one can forecast with confidence the future of the Chinese economy,” he said. Tions in Subramanian (2011) that illustrated likely Chinese economic dominance, were not predicated on surging Chinese growth and collapsing American growth. 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. 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. The medium-term growth projections for China and the United States, 5.5 and. 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. Naughton, Barry, 2007, The Chinese Economy Transitions and Growth, Boston, Massachusetts: MIT Press. At a minimum it'll allow more of its citizens to buy widgets that help them get around the Great Firewall.