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China’s Economic New Normal

Part of the Research Series on the Chinese Dream and China’s Development Path Book Series

Editors: Cai, Fang

DOI: 10.1007/978-981-15-3227-6

ISBN: 978-981-15-3226-9

Publisher: Springer Singapore - Springer Journals

Mar 12, 2020

1 - 10 of 15 Chapters

Available

New Normal Brings New Opportunities

Cai, Fang

Pages: 1 –4

[Much discussed nowadays, China’s “new normal” has to be traced, logically and virtually, back to the point at which its economic growth began to slow down. For more than ten quarters, China’s growth rate has remained below the annual average of the past 35 years and is likely to decline further....
Available

Understanding and Adapting to the New Normal

Li, Yang

Pages: 5 –12

[The “new normal,” as a concept, was formally written into China’s national development strategy at the conclusion of the recent Central Economic Working Conference. A number of questions have arisen in response: How is this different from the old normal? How will the country shift from the old...
Available

The Inevitability of the New Normal

Liu, Shijin

Pages: 13 –19

[The Chinese economy has entered a period of economic growth categorized as a “new normal,” but we have not yet come up with a theory that adequately and convincingly elaborates this new normal, nor have we developed an internationally-accepted theoretical or analytical framework for it. In this...
Available

Global Economic Outlook in the Era of China’s New Normal

Huang, Haizhou

Pages: 21 –25

[In order to analyze the new normal, we need to pay close attention to both the demand and supply sides, though at present it is more necessary to focus on the latter. What follows are some of our viewpoints on global economic prospects under the new normal, focusing primarily on the supply side.]
Available

Global Competition in Reform Under the New Normal

Zhang, Xiaojing

Pages: 27 –33

[First of all, I would like to say a few words about China’s new normal, which many experts have already comprehensively analyzed in their speeches. What I want to mention is limited to the causes for China’s structural deceleration. This is not only a result of the declining efficiency of our...
Available

Structural Adjustments Under the New Normal

Sun, Tao

Pages: 35 –52

[I work with the International Monetary Fund (IMF). A significant portion of what the IMF does is to assess the potential economic growth and associated risks of certain countries and to subsequently judge their policy orientations through a lens of international comparison. The theme of my...
Available

China’s New Normal and Deceleration Governance

Zhang, Ping

Pages: 53 –64

[It is now common knowledge that the Central Economic Working Conference has concluded that China’s new normal is characterized by nine specific features. As such, I would like to talk about the substantive meanings of the new normal from four different perspectives: the various definitions of...
Available

Aspects of the Middle Income Trap

Yao, Zhizhong

Pages: 65 –78

[In 2007, the World Bank published the report, “An East Asian Renaissance: Ideas for Economic Growth,” and raised the issue of “a middle income trap” for the first time. In “China 2030: Building a Modern, Harmonious, and Creative Society,” released in 2012 by the World Bank and the Development...
Available

Positive Changes in China’s Economic Structure

Huang, Yiping

Pages: 79 –85

[I would like to talk here about economic structure. In my contact with the market, I have noticed that many people are rather pessimistic about the current economic structure, even as stock prices are shooting up. Very often I have discussions with others about why China’s stock market has not...
Available

Productivity Under the New Normal: Latest Estimates and Interpretations of China’s Total Factor Productivity

Wu, Harry X.

Pages: 87 –111

[I shall begin this discussion on the productivity of the Chinese economy with what is called the “new normal.” Almost overnight, everyone is talking about the new normal, and some economists have even jokingly suggested that it be taken as an economics course in universities.]

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