Where Is the Chinese Economy Going?: A Forum on Contemporary Policy and Performance
R Garnaut, L Johnston, L Song
Australian Economic Review | John Wiley & Sons | Published : 2017
China adopted a new model of growth from 2011, requiring substantial structural change. This introductory article presents statistical evidence on progress so far. Change generally is in the required direction, but slow. There has been early but slow progress on re-orienting domestic demand towards consumption; substantial re-orientation from reliance on exports towards domestic demand; and rapid change at the margin in the energy mix towards low-emissions sources. Investment in human capital is proceeding rapidly along lines required by the new model. So far, productivity growth has been slow, raising questions about future progress.