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The Chinese Economy: Transitions and Growth Barry Naughton
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No sane American can wish China ill. Provided the Chinese slowdown is not for the time being, a threat to the planet. When I chat with people about China's economic growth, I often hear a story that goes like this: The main driver's behind China's growth is that it uses a combination of cheap labor and an undervalued exchange rate to create huge trade surpluses. Decades of rapid economic growth granted legitimacy to the Chinese Communist Party and helped minimize social unrest. China's consumer-led growth means that China's economy is experiencing the transition from investment-led style. A slight acceleration in Chinese economic growth at the end of last year is reinforcing the common narrative that China's expansion is a threat to other nations, including the United States. Last week saw the completion of China's leadership transition, with Xi Jinping as the new President and Li Keqiang the new Premier. The speed of economic growth (as well as the shape) will influence multiple investment trends over coming years including the growth rate of many other emerging markets which export to China; global commodity demand growth; the sales growth rate of European and US luxury goods and cars; and the . President High growth in recent decades has boosted China's economy and confidence. Recent years, it is a hot topic that if China's economy can keep growing rapidly. That conclusion is supported by two key factors which suggest that China's transition from high trend growth to lower trend growth is probably already underway. Product Description This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a quality and breadth of coverage not found in any other English-language text. As the country prepares for only its second organized transfer of power since 1949 the incoming leadership Our hope remains that China's transition to a more sustainable trajectory will be measured, peaceful and as smooth as possible.