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The Chinese Economy: Transitions and Growth Barry Naughton
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China's economy is forecast to boom from 2013, but this may not necessarily translate into a big price rally for metals, as intensity of usage is leveling off in the country due to changes in its economic growth model. The country is trying to diversify its economic growth engine from purely exports to an increasingly domestic-oriented economy. The immediate risk facing Mr Li is a prolonged economic downturn if the current stimulus, Domestic investors are more momentum driven, and typically more short-term in focus. Chinese premiere Wen Jiabao has made clear that stabilizing China's economic growth is a priority and markets are likely to be positive on this GDP data since they now expect more policy easing measures. Second, China's leadership transition will turn out to be relatively smooth later this year and the new leadership under President Xi Jinping will continue to embrace the economic transformation project outlined above. Today, they are particularly focused on the uncertainties associated with the Chinese leadership transition, and on the economic slowdown this year. The Chinese economy is undergoing a massive transition. 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). It's Mr Li who will be responsible for combating the country's slowing economic growth and, with it, potentially the fate of the world's economy. On 11 July 2013, the China Economy Program within the Crawford School, in collaboration with the Rio Tinto–ANU China Partnership, will present the thirteenth China Update. A new model and strategy for long-term growth and development; China's industrialization and the transition to a new model; Green growth in China; China's energy policy challenges and climate change practices. Address to the Africa Down Under Conference Perth. She said that the economic transition taking place in China – less reliance on fixed asset investment and more consumption – will impact demand growth for industrial metals. 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. The diminishing advantage of low-cost factors and the declining FDI in China indicates that both the country's current export model and its mode of economic growth are at a turning point. New Model for Growth and Development. Naughton, Barry, 2007, The Chinese Economy Transitions and Growth, Boston, Massachusetts: MIT Press. SPEECH – CHINESE ECONOMIC GROWTH AND IMPLICATIONS FOR THE AUSTRALIAN ECONOMY.