China and the Global Economy: Medium-Term Issues and Options - a Synthesis Report

73 Pages Posted: 9 Aug 2006

See all articles by Ricardo Hausmann

Ricardo Hausmann

Harvard University - Harvard Kennedy School (HKS)

Edwin Lim

China Economic Research and Advisory Programme (CERAP)

A. Michael Spence

Stanford Graduate School of Business

Date Written: July 2006

Abstract

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.

Keywords: China, global economy, macro-management, financial imbalances, exchange-rate regime, Economics - International Economics, International Development

JEL Classification: O20, O50

Suggested Citation

Hausmann, Ricardo and Lim, Edwin and Spence, A. Michael, China and the Global Economy: Medium-Term Issues and Options - a Synthesis Report (July 2006). KSG Working Paper No. RWP06-029. Available at SSRN: https://ssrn.com/abstract=902379 or http://dx.doi.org/10.2139/ssrn.902379

Ricardo Hausmann (Contact Author)

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Mailbox 34
Cambridge, MA 02138
United States
617-496-3740 (Phone)
617-496-8753 (Fax)

HOME PAGE: http://www.hks.harvard.edu/about/faculty-staff-directory/ricardo-hausmann

Edwin Lim

China Economic Research and Advisory Programme (CERAP) ( email )

China

A. Michael Spence

Stanford Graduate School of Business ( email )

655 Knight Way
Stanford, CA 94305-5015
United States

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