China and the Global Economy: Medium-term Issues and Options - A Synthesis Report
Harvard University - Harvard Kennedy School (HKS)
China Economic Research and Advisory Programme (CERAP)
A. Michael Spence
Stanford Graduate School of Business
KSG Working Paper No. RWP06-029
China's economic and social achievements since the beginning of reform and opening are unprecedented in global history. Managing the growth process in this continuously changing environment has required great skill and the use of unconventional economic policy. Now China has entered a new era in its development process with a set of challenges largely different from those of the recent past. Some problems - such as growing internal and external structural imbalances, increasing income and regional inequality - have arisen from, or been exacerbated by, the very pattern and success of high growth since reforms began. Others are newly posed by rapid changes in the global economy. These challenges can best be tackled in an integrated and coordinated fashion. This report, supported by the China Economic Research and Advisory Programme (CERAP), identifies the primary challenges facing China today and presents options for meeting them.
Number of Pages in PDF File: 73
Keywords: China, global economy, macro-management, financial imbalances, exchange-rate regime, Economics - International Economics, International Development
JEL Classification: O20, O50working papers series
Date posted: August 9, 2006
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