Potential output in a rapidly developing economy: the case of China and a comparison with the United States and the European Union

The authors use a growth accounting framework to examine growth of the rapidly developing Chinese economy. Their findings support the view that, although feasible in the intermediate term, China's recent pattern of extensive growth is not sustainable in the long run. The authors believe that China will be able to sustain a growth rate of 8 to 9 percent for an extended period if it moves from extensive to intensive growth. They next compare potential growth in China with historical developments in the United States and the European Union. They discuss the differences in production structure and level of development across the three economies that may explain the countries' varied intermediate-term growth prospects. Finally, the authors provide an analysis of "green" gross domestic product and the role of natural resources in China's growth.Economic development ; Economic conditions - United States ; Economic conditions - China ; European Union

China: Surpassing the “Middle Income Trap”

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

Economic and Social Transformation in China

The Center for China Studies is among China’s most influential think-tanks, and its China Studies Reports are read at the highest levels of government. Now for the first time, the most important of these reports is collected in book form in Eng, providing a fascinating insight into the challenges and opportunities for Chinese development and the government’s thinking on economic and social issues. Including comparative studies with developed and developing nations, analysis of past economic performance and future trends, and effects of demographic shifts such as population ageing and urbanization, this book is an essential collection of research and includes notes made by central party leaders. Compiled by the founder of the Center for China Studies, one of the country’s leading economists, this book is key to understanding Chinese development and the likely future path of government policy