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2024 | Buch

Preface Kapitel lesen Erstes Kapitel lesen

Challenges and Solutions to China’s Modernization Process

verfasst von: Fang Cai

Verlag: Springer Nature Singapore

Buchreihe : China Insights

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

Focusing on these developing problems and growing troubles, this book mainly discusses economic growth issues related to demographic transition, as well as livelihood issues derived from them and closely related to policy logic. It aims to make theoretical analysis and provide necessary international experience and lessons and put forward targeted policy advice. This book proposes a three-pronged pattern of competition policy, industrial policy, and social policy to achieve productivity improvement and innovation momentum; gives full play to China's super-large market advantages, attractiveness and negotiating position; and promotes each other through domestic and international dual cycles to achieve a higher level of development.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Preface
Abstract
The report to the 19th National Congress of the Communist Party of China (CPC) stipulates that “the period between the 19th and the 20th National Congress is the period in which the time frames of the two centenary goals converge.
Fang Cai
Chapter 2. From the Middle-Income Trap to the Threshold Effect
Abstract
In 2007, in its keynote report on economic development in East Asia, the World Bank coined the concept of the “middle-income trap.”
Fang Cai
Chapter 3. How Does China Avoid “Secular Stagnation?”
Abstract
In my previous studies, I reiterated and scrutinized the fact that China’s pre-2010 high-speed economic growth derived from its demographic dividend; hence, we can now conclude from the country’s negative growth of the working-age population that its demographic dividend has disappeared, and make bold predictions that its potential growth rate and real growth rate will also decline.
Fang Cai
Chapter 4. Establishing a New Development Paradigm by Strengthening Comparative Advantage
Abstract
Xi called for “leveraging advantages of China’s supersized domestic market to establish a new development paradigm of dual circulation, in which domestic and foreign markets reinforce each other, with the domestic market as the mainstay”.
Fang Cai
Chapter 5. Dynamic Balance of Regional Economic Growth
Abstract
Since regional development usually remains unbalanced, achieving balance is one of the major characteristics for obtaining economic growth.
Fang Cai
Chapter 6. Productivity, New Growth Drivers and the Manufacturing Industry
Abstract
Development economics that tenaciously targets necessary and sufficient conditions for economic growth has lost popularity, while theories of economic growth that heavily focus on determinants of economic growth are gaining traction.
Fang Cai
Chapter 7. Tales of Cities: Fundamentals of Urban Development
Abstract
Urbanization reflects economic growth to a considerable extent. As China’s GDP and per capita GDP do not always reveal the full picture of development, the level of urbanization generally can and should act as a key supplement when we are trying to gauge the efficiency of economic growth. Since reform and opening-up, the pace of urbanization in China has far surpassed both the world average and that of any individual country. From 1978 to 2018, China’s urbanization increased by 230.5%. Within the same timeframe, the world’s average urbanization grew by 43.4%. The figure for high-income countries was 14.4%; for upper-middle-income countries it was 90.2%, for lower-middle-income countries 60.8%, and for low-income countries 69.7%.
Fang Cai
Chapter 8. Human-Centered Macroeconomic Policies
Abstract
Under the planned economy system before and in the early phase of reform and opening up, China never went through the economic cycles that market economies usually face. Nor had it ever devised any macroeconomic policies in the true sense of a market economy.
Fang Cai
Chapter 9. Innovation and Protection: Why We Should Prioritize Income Redistribution
Abstract
Over the course of its development, a country is always faced with various obstacles, which can block its way if not properly handled. It will also run into growing pains induced by progress in its march forward. The higher the stage of development, the more growing pains appear in greater complexity and difficulty. As we all know, there is less oxygen at higher altitudes, therefore, we cannot expect the shortage of oxygen to go away as we climb higher. Similarly, while most growing pains are related to specific stages of development, they do not disappear naturally over time. It is especially worth noting that growing pains, whenever and wherever they are, bring about adverse consequences, possibly hindering a society’s progress and preventing it from achieving its goals.
Fang Cai
Chapter 10. Moving Upward: Quality-Oriented Development and Social Mobility
Abstract
Since the beginning of reform and opening up, China has created two miracles. One is sustained and sound economic development, and the other is social security and stability and the two are inextricably interdependent. In particular, society has been able to remain stable, precisely because economic development has yielded remarkable outcomes that have been shared by all. Meanwhile, society as a whole has maintained sufficient mobility, ensuring that everyone is moving upward, improving their lives and working hard to become rich through hard work and active entrepreneurship. As the Chinese economy shifts from fast to quality-oriented development, it is facing the daunting task of transforming the development mode, and improving and upgrading its industries, while ensuring sufficient social mobility.
Fang Cai
Chapter 11. Unlocking the Second Demographic Dividend
Abstract
Since the beginning of reform and opening up, China’s rapid economic growth has been accompanied by a demographic transformation favorable to growth. With the removal of institutional barriers that prevented the efficient allocation of factors of production, favorable changes in the age structure of China’s population, increased quantity and quality of labor, a high savings rate, a high return on investment and resource reallocation, such as labor, became the sources of unprecedented growth in this period. Thus we can say that the economic growth in this period came from demographic dividend. For example, in the period between 1980 and 2010, during a window of opportunity characterized by a rapid increase in working-age population and zero growth in other population groups, China’s GDP grew at an average annual rate of 10.1%.
Fang Cai
Metadaten
Titel
Challenges and Solutions to China’s Modernization Process
verfasst von
Fang Cai
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Electronic ISBN
978-981-9991-41-9
Print ISBN
978-981-9991-40-2
DOI
https://doi.org/10.1007/978-981-99-9141-9

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