Deepening reform for China's long-term growth and development / Ligang Song, Ross Garnaut, Cai Fang, editors.

Format:

Book

Author/Creator:

Song, Ligang, Editor.

Contributor:

Song, Ligang, editor.

Cai, Fang, editor.

Garnaut, Ross, editor.

Series:

China Update Series

Language:

English

Subjects (All):

International economic relations.

Economic development--China.

Economic development.

Australia--Foreign relations--China.

Australia.

Physical Description:

1 online resource (xxvii, 567 pages) : illustrations; digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

ANU Press 2014

Canberra, Australi : ANU E Press, 2014.

Language Note:

English

System Details:

text file

Summary:

The Chinese economy has entered a new phase of development in which sources of growth are not so much dependent upon pure increases in labour, investment and credit expansion, but from productivity improvement, structural changes, technological progress and the benefits from improvement of the social security and welfare improvement. When market functions are fully established to become a main channel for allocating resources, the entrepreneurship will flourish engaging in more innovative activities, workers will move more freely and have more incentives to improve their skills, firms will become more productive through market entry and exit, the economic structure will become more balanced because of the improved resource allocation, and in the end, growth will become more spontaneous and sustainable. In this sense, reforms could deliver ‘dividend’ by raising China’s potential economic growth rates. For China to confront all the challenges it faces at present, the reforms undertaken now have to be deep, comprehensive and far-reaching in order to succeed in paving the way for China to complete the task of transformation in the long-term. There is no better alternative than deepening the market-oriented reform in advancing the course of China’s modernisation for future development and prosperity and lifting China to the status of a developed economy in the next two decades. The recent China update books have covered the topic of reform from different angles and this new book is another attempt to address this important issue.

Contents:

Preliminary

Acknowledgments

Contributors

Abbreviations

Part I: New Model for Economic Growth

1. Reform and China's Long-Term Growth and Development

2. China's Shift from the Demographic Dividend to the Reform Dividend

3. Structural Imbalance, Inequality and Economic Growth

4. State Control, Entrepreneurship and Resource Allocation

5. China's High Rates of Investment and Path Towards Internal Rebalancing

6. The Middle-Income Trap and China's Growth Prospects

7. Short-Run Effects of the Economic Reform Agenda

Part II: New Priority for Low‑Carbon Growth and Climate Change Policy

8. Low-carbon Growth and its Implications for the Less‑developed Regions

9. China's Climate and Energy Policy: On Track to Low-Carbon Growth?

Part III: Financial System Reform

10. The Last Battles of China's Financial Reform

11. Financial Reform in Australia and China

12. Financial Openness of China and India

13. Increasing the Resilience of China's Financial Sector and the Global Monetary System

Part IV: Factor Market Reform

14. The Issue of Land in China's Urbanisatoin and Growth Model

15. China's Labour Market Tensions and Future Unbanisation Challenges

16. The Impact of FDI on China's Regiona Economic Growth

Part V: Productivity, Patent Institution and Investment Law

17. Accounting for the Sources of Growth in Chinese Industry, 1980-2010

18. Growth, Structural Change and Productivity Gaps in China's Industrial Sector

19. The Importance, Development and Reform Challenges of China's Rail Sector

20. Patent Institution, Innovation and Economic Growth in China

21. Foreign Investment Laws and Policies in China Historical views and current issues

Index.

Notes:

Description based on print version record.

Includes bibliographical references and index.

Access Restriction:

Open access Unrestricted online access