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The Chinese Economy: Transitions and Growth Barry Naughton
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This comprehensive overview of the modern Chinese economy by a noted expert on Chinas economic development offers a quality and breadth of coverage not found in any other English-language text. 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. Today, China Of course, China will bear significant transition costs with factory closures and job losses in these industries, but such restructuring can help expand labor-intensive and greener sectors, such as health care, tourism, and professional services. GDP growth rates, beginning in the middle of 2011, began to falter. The Chinese government is getting serious about ending the state's parasitic role in the Chinese economy, reports the New York Times. The Chinese Economy: Transitions and Growth. The Chinese Economy: Transitions and Growth by Barry Naughton. Naughton, Barry, 2007, The Chinese Economy Transitions and Growth, Boston, Massachusetts: MIT Press. China also needs to shift its economy away from energy-intensive sectors, like the country's fast-growing, mammoth steel industry, and toward more energy-efficient, high-tech, and service industries. Download The Chinese Economy: Transitions and Growth. Since its departure from Communism and the liberalization of its economy, China has experienced extremely high economic growth rates, raised hundreds of millions of people out of poverty, and has become a central component of the global economy due to its high degree of integration and essential role in the supply chain (Sachs, 2005, 165-169). First, a structural slowdown of growth looks clearly to be in the cards. To make matters worse, this leadership transition was occurring while the Chinese economy stumbled. Philip highlights three mutually reinforcing paths of transformation ahead in the Chinese economy.