Where is the Chinese Economy Going? A Forum on Contemporary Policy and Performance

9 Pages Posted: 5 Dec 2017

See all articles by Ross Garnaut

Ross Garnaut

University of Melbourne; Chinese Academy of Social Sciences (CASS)

Lauren A. Johnston

SOAS University of London

Ligang Song

Australian National University (ANU) - Crawford School of Public Policy

Date Written: December 2017

Abstract

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.

Suggested Citation

Garnaut, Ross and Johnston, Lauren A and Song, Ligang, Where is the Chinese Economy Going? A Forum on Contemporary Policy and Performance (December 2017). Australian Economic Review, Vol. 50, Issue 4, pp. 441-449, 2017, Available at SSRN: https://ssrn.com/abstract=3081265 or http://dx.doi.org/10.1111/1467-8462.12247

Ross Garnaut (Contact Author)

University of Melbourne ( email )

185 Pelham Street
Carlton, Victoria 3053
Australia

Chinese Academy of Social Sciences (CASS)

Beijing, 100732
China

Lauren A Johnston

SOAS University of London ( email )

SOAS University of London 10 Thornhaugh Street, Ru
London, WC1H 0XG
United Kingdom

Ligang Song

Australian National University (ANU) - Crawford School of Public Policy ( email )

Crawford Building
J.G. Crawford Building, #132, Lennox Crossing
Canberra, Australian Capital Territory 0200
Australia

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