Supply-Side Structural Reform Ushers in China's New Normal PDF Download

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

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

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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: 蔡昉
Publisher:
ISBN: 9787119103778
Category : Economics
Languages : en
Pages : 41

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

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

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

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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: Jinglian Wu
Publisher: Royal Collins Publishing Company
ISBN: 9781487804909
Category : Business & Economics
Languages : en
Pages : 232

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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: Shaojie Zhou
Publisher: Springer Nature
ISBN: 9811565406
Category : Business & Economics
Languages : en
Pages : 230

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Book Description
This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

Author: Shaojie Zhou
Publisher: Palgrave Macmillan
ISBN: 9789811565397
Category : Business & Economics
Languages : en
Pages : 218

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Book Description
This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

Author: Fang Cai
Publisher: Springer Nature
ISBN: 981192824X
Category : Political Science
Languages : en
Pages : 238

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Book Description
This book analyzes the characteristics of China's economic operation in the new era and explores Xi's thought on China's development. The book consists of six parts. The first part puts forward the guiding principles and main contents of political economy of socialism with Chinese characteristics in the new era; the second part conducts the epistemology and methodology; the third part reveals the big logic of the new normal of economic development from the time and space dimension; and the fourth part examines the purpose, motivation, necessary conditions and measurement scale of development according to the new development concept; the fifth part discusses the path of building a modern economic system; the sixth part focuses on what China Wisdom and China solution could contribute to the global governance and promoting global development.