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The Chinese Economy: Transitions and Growth Barry Naughton
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High and sustained GDP growth rates were based on elevated The metamorphosis of the dragon may involve painful growing pains, including the risks of a hard landing that many analysts attribute to the current transition. Placing the volume in context, the preface pays homage to previous books that have focused on China, notably Barry Naughton's The Chinese Economy: Transitions and Growth. The slowdown makes this transition all the more urgent, because GDP growth in China's service sector produces more jobs than does the industrial sector. Access to excess global capital to rebuild America. The result of the debt bust and additional complicating factors is that there is no single economic growth engine akin to the U.S. The Chinese pattern of rapid growth with structural change has been accompanied by rising economic imbalances, just as the main pillars of growth seem to be gradually weakening. If China's economic growth rate does not slow significantly, I wouldn't expect a lot of restraint on either side. We are stuck in a The answer to the first challenge lies in the transition to an investment- and production-led economic growth strategy that leverages U.S. Economy in the late 1990s (post-Asian crisis) or the Chinese economy (post 2008-09) to pull the world economy out of its malaise. The Chinese government is getting serious about ending the state's parasitic role in the Chinese economy, reports the New York Times. As China accumulated economic and strategic clout, its neighbors benefited from its rapid GDP growth, which spurred their own economies.