231. China's Economic Choices
- Author:
- David Orsmond
- Publication Date:
- 12-2019
- Content Type:
- Commentary and Analysis
- Institution:
- Lowy Institute for International Policy
- Abstract:
- China’s economic growth has fallen to its slowest rate since 1990, and this deceleration looks set to continue unless China implements the kinds of deep reforms behind the successful economic transitions of Japan and Korea. China’s economic growth has fallen to its slowest rate since 1990, and this deceleration looks set to continue. Key factors include weakening demographics, inefficient investment, maturing export markets and declining productivity growth rather than the current trade dispute with the United States. To reverse that trend, China will need a wide-ranging policy approach that mimics the policies implemented by Japan and Korea at a similar economic stage. While there are considerable political and economic obstacles to such reforms, if it manages to continue its rapid catch-up to advanced economy incomes the potential returns for both China and the world are significant.
- Topic:
- Reform, Economy, Economic growth, Trade Wars, and Trade
- Political Geography:
- China, Asia, Australia, and United States of America