Great Transformation, The: Supply-side Structural Reform PDF Download

Author: Cai Fang
Publisher: Routledge
ISBN: 1000466205
Category : Business & Economics
Languages : en
Pages : 218

View

Book Description
China’s continuous, rapid economic growth since the Reform and Opening up of the country in the early 1980s has been praised as a miracle of the world economy. However, since 2012, the rate of growth has slowed down, rendering some people pessimistic about the country’s economic prospects. This title is a collection of a leading Chinese economists’ views on China’s economic growth and structural reform. The author argues that China’s economy has entered “the new normal”, meaning that slowed growth rate is not a cyclical phenomenon but a change in the stage of economic development. Therefore, there is a need to enact supply-side structural reforms, such as improved efficiency of resource reallocation, while shifting the mode of development from one of inputs to innovation. In addition, the author discusses the five major concepts of development proposed for the “13th Five-Year Plan”, as well as some critical topics related to supply-side structural reform, such as agricultural development, labor employment, and product quality. Scholars and students of macroeconomics, development economics, and the Chinese economy will find this book to be essential reading.

Author: Xiaohe Ma
Publisher: World Scientific
ISBN: 9811209359
Category : Business & Economics
Languages : en
Pages : 260

View

Book Description
In recent years, the 'supply-side structural reform' has become a popular term in all regions and fields in China. The supply-side structural reform is the key component of the Chinese government's economic policy framework during the '13th Five-Year Plan' period. It is crucial in both theory and practice, to have an accurate understanding of its background, content, essential features, principles, and goals.The theme of the book revolves around the supply-side structural reform and analyses the concept from different perspectives, such as the basic theories and institutional framework, the fiscal taxation system, the financial system reform, and the innovation system. It attempts to address questions such as: how to understand the supply side and the demand side; why the supply-side structural reform is currently proposed; how to implement the reform; what are the changes brought about by the reform; what factors should be taken into consideration in its implementation; what are the policies to be developed in the process, etc.

Author: Fuqian Fang
Publisher:
ISBN: 9789814853439
Category : China
Languages : en
Pages : 128

View

Book Description
At the start of the 21st century, the Chinese economy began slowing down after decades of double-digit growth.Ironically, the cause was not a shortage of economic output, but rather, a surfeit of it. In China's Supply-sideReform, the author offers a historical survey that elucidates the economic conditions that contributed to excesscapacity. He also discusses the economic theories that have informed policy direction, presents the scholarlydebate between demand-side and supply-side approaches, and explains the reasons for choosing supply-sidereform. Last, he recommends a three-step strategy to conduct su pply-side reform. As the world continuesto expect greater things from China, this book offers an illuminating account of its economic exigencies andfuture development.

Author: Lin Xiao
Publisher: Springer
ISBN: 9811046395
Category : Business & Economics
Languages : en
Pages : 334

View

Book Description
This book investigates the basic theoretical framework and conducts a logical analysis of China’s new supply-side economics, while also providing a strategic path to remedy the plight of China’s economic development. From the perspective of connotation, theory and methods, China’s structural reform differs both from that proposed by the Western supply-side school or supply-side economics, and from that proposed by structural economists. The theoretical basis of supply-side structural reform falls under socialist political economics with Chinese characteristics, and the new supply-side economics represent an important component of socialist political economics with Chinese characteristics.

Author: People's Daily
Publisher:
ISBN: 9781910760048
Category : China
Languages : en
Pages : 55

View

Book Description

Author: Wing Thye Woo
Publisher:
ISBN:
Category :
Languages : en
Pages : 21

View

Book Description
President Xi Jinping pronounced in April 2014 that China has entered a New Normal in economic growth, and the common perception was that it meant a new trend growth rate of about 7.0 percent. After growth came in at 6.9 percent in 2015, and the World Bank's projections in January 2016 that China's growth rate would drop to 6.7 percent in 2016 and then to 6.5 percent in 2016, President Xi Jinping announced in May 2016 that comprehensive supply-side structural reforms would be enacted. In this paper we (1) identify some of the major structural reforms that would entrench dynamism into China's economy, and (2) emphasize that China needs to expunge the soft-budget constraint on the demand-side if supply-side structural reforms are to generate the desired outcomes. The existence of the softbudget constraint guarantees the existence excess capacity and zombie firms. A crude but previously effective instrument to curb the over-investment proclivity of local governments and SCEs is to hold the top management of the state-controlled banks (SCBs) accountable for the appearance of NPLs. A much more effective curbing of the soft-budget constraint behavior will require that the career-maximizing practices of the managers of state-controlled enterprises (SCEs) and SCBs become identical to the long-run profit-maximizing practices that owners of private firms in a modern market economy would adopt. Structural-side structural reforms (like more privatization of SCEs and SCBs, and the establishment of social safety nets and job retraining programs) will correct the incentives faced by China's managers and government officials.

Author: Jinglian Wu
Publisher: Royal Collins Publishing Company
ISBN: 9781487808334
Category : Business & Economics
Languages : en
Pages : 232

View

Book Description
In A Reader's Guide to Supply-Side Reform, 22 mainstream scholars, experts, and senior think tanks behind the 13th Five-year Plan offer insight into what supply side reform is, why it should be conducted, how to view it, and what to do. This book offers a thorough overview. As a major strategic proposition, the supply side structural reform is a new expression that provides a new perspective and route for China's economic development. It is a new engine driving the 13th Five-year Plan and economic growth, which will determine the direction of China's economic and social reform in the future. What is supply side reform? What role does it play in China's economy? What is at its core? What is its focus? How does it integrate with other current important financial reforms and innovations? What are the possible mistakes that should be avoided? The interpretation and discussion of these issues will help clarify how to view and implement supply-side reform.

Author: Fang Fuqian
Publisher: Taylor & Francis
ISBN: 1000838803
Category : Business & Economics
Languages : en
Pages : 226

View

Book Description
Focusing on the supply-side structural reform in China, this book investigates the impetus, implementation strategy, initial results and theoretical underpinnings of the revolution, assessing its significance in perfecting China’s socialist market economic system. The supply-side structural reform launched in China in 2015 aims to thoroughly resolve the cyclical excess capacity and the habitual imbalance of economic structure; and form a long-term mechanism for economic stability, different from the supply-side policies under the Reagan Administration in the 1980s. Based on the analysis framework of aggregate demand and supply, combined with institutional and structural analysis, the title elucidates the reason, theory, measures and results that ground the reform. It explicates the three-step strategy to ensure the successful outcome, countermeasures against current supply-side problems, upgrading the economic structure, and most importantly the institutional reform and innovation. The author emphasizes the importance of reforming both market and government and advances a “double-effect” model combining the effective market and government. This title will appeal to scholars, students and policymakers interested in economics, macroeconomic control, and the Chinese economy and economic system reform.

Author: 肖林
Publisher:
ISBN: 9789811046407
Category : China
Languages : en
Pages :

View

Book Description
This book investigates the basic theoretical framework and conducts a logical analysis of China's new supply-side economics, while also providing a strategic path to remedy the plight of China's economic development. From the perspective of connotation, theory and methods, China's structural reform differs both from that proposed by the Western supply-side school or supply-side economics, and from that proposed by structural economists. The theoretical basis of supply-side structural reform falls under socialist political economics with Chinese characteristics, and the new supply-side economics represent an important component of socialist political economics with Chinese characteristics.

Author: Arthur R. Kroeber
Publisher: Oxford University Press
ISBN: 0190946490
Category : Business & Economics
Languages : en
Pages : 465

View

Book Description
China's economic growth has been revolutionary, and is the foundation of its increasingly prominent role in world affairs. It is the world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America. Multinational companies make billions of dollars in profits in China each year, while traders around the world shudder at every gyration of the country's unruly stock markets. Perhaps paradoxically, its capitalist economy is governed by an authoritarian Communist Party that shows no sign of loosening its grip. China is frequently in the news, whether because of trade disputes, the challenges of its Belt and Road initiative for global infrastructure, or its increasing military strength. China's political and technological challenges, created by a country whose political system and values differ dramatically from most of the other major world economies, creates uncertainty and even fear. China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic and political story of the last three decades. Arthur Kroeber enhances our understanding of China's changes and their implications. Among the essential questions he answers are: How did China grow so fast for so long? Can it keep growing and still solve its problems of environmental damage, fast-rising debt and rampant corruption? How long can its vibrant economy co-exist with the repressive one-party state? How do China's changes affect the rest of the world? This thoroughly revised and updated second edition includes a comprehensive discussion of the origins and development of the US-China strategic rivalry, including Trump's trade war and the race for technological supremacy. It also explores the recent changes in China's political system, reflecting Xi Jinping's emergence as the most powerful leader since Mao Zedong. It includes insights on changes in China's financial sector, covering the rise and fall of the shadow banking sector, and China's increasing integration with global financial markets. And it covers China's rapid technological development and the rise of its global Internet champions such as Alibaba and Tencent.