TY - JOUR
T1 - Where Is the Chinese Economy Going? A Forum on Contemporary Policy and Performance
AU - Garnaut, Ross
AU - Johnston, Lauren
AU - Song, Ligang
N1 - Publisher Copyright:
© 2017 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research
PY - 2017/12
Y1 - 2017/12
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=85037551829&partnerID=8YFLogxK
U2 - 10.1111/1467-8462.12247
DO - 10.1111/1467-8462.12247
M3 - Article
SN - 0004-9018
VL - 50
SP - 441
EP - 449
JO - Australian Economic Review
JF - Australian Economic Review
IS - 4
ER -