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The Chinese Economy: Transitions and Growth Barry Naughton
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At a minimum it'll allow more of its citizens to buy widgets that help them get around the Great Firewall. But it is also due to the growing place of China in international relations, following from its economic development. Urban China is a fascinating topic of study: it displays unprecedented dynamism under market transition and globalizing forces. Naughton, Barry, 2007, The Chinese Economy Transitions and Growth, Boston, Massachusetts: MIT Press. Contrary to the conventional wisdom that China's economic growth has been driven by exports, it is investment that actually contributes the most. €�China's growth rate has exceeded 10% while the inflation rate has been kept below 3% for four years running. Naughton, Barry (2007), The Chinese Economy: Transitions and Growth. In a mere three decades China has moved from a to Germany (1.28%/ year). Can China's economy keep growing despite recent slowdowns? The development of Chinese cities was fundamentally altered with the economic . Economic growth hopefully will bring more freedom to China's people. Mao's death in 1976 facilitated the transition that took place under Deng Xiaoping. 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). This is rare both in China and the world. Starting with the opening of agriculture to private incentives in the late 1970s, China has experienced faster and more prolonged economic growth than any other country. One of the key challenges facing China's new leaders will be how to keep the world's second largest economy on track. In a paper, Li Zuojun, deputy director at the Development Research Center of the State Council (DRC) writes that after 30 years of rapid growth, China is beginning to restructure. As Chinese data continues to deteriorate, housing continues to show weakness and bad debts rise, some take solace in the fact that this is all part of China's plan to rebalance its economy and cool growth. If China is able to implement a smooth transition to the democracy (that did not occured in the USSR), i predict that china will attain the "technological frontier" somewhere near the year 2050. €�While China has largely recovered from the recent downturn, its impact was an important reminder that the future growth of Chinese cities is now inextricably tied to the world economy.” Growing global linkages come with tradeoffs.