China's New Sources of Economic Growth: Vol. 1

China's New Sources of Economic Growth: Vol. 1
Author: Ligang Song
Publisher: ANU Press
Total Pages: 545
Release: 2016-07-21
Genre: Business & Economics
ISBN: 1760460354

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China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening.

China's New Sources of Economic Growth: Vol. 1. Reform, Resources and Climate Change

China's New Sources of Economic Growth: Vol. 1. Reform, Resources and Climate Change
Author: Ligang Song
Publisher:
Total Pages:
Release: 2016
Genre:
ISBN:

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China's change to a new model of growth, now called the 'new normal', was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China's economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year's Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China's economy and environment review change within China's new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China's economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China's economic development since 1978 is full of exciting change, and this year's China Update is again the way to know it as it is happening.

China's New Sources of Economic Growth: Vol. 2

China's New Sources of Economic Growth: Vol. 2
Author: Ligang Song
Publisher: ANU Press
Total Pages: 495
Release: 2017-07-20
Genre: Business & Economics
ISBN: 176046130X

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China’s efforts in searching for new sources of growth are increasingly pressing given the persistence of the growth slowdown in recent years. This year’s book elucidates key present macroeconomic challenges facing China’s economy in 2017, and the impacts and readiness of human capital, innovation and technological change in affecting the development of China’s economy. The book explores the development of human capital as the foundations of China’s push into more advanced growth frontiers. It also explores the progress of productivity improvement in becoming the primary mechanism by which China can sustain economic growth, and explains the importance of China’s human capital investments to success on this front. The book demonstrates that technical change is a major contributor to productivity growth; and that invention and innovation are increasingly driving technical change but so far lumpily across regions, sectors and invention motivations. Included are chapters providing an update on reform and macroeconomic development, educational inequality, the role of intangibles in determining China’s economic growth, and China’s progress in transitioning towards being an innovative country. The book also covers the regional dimension of innovation and technological progress by sector: in agricultural productivity, renewable energy and financial markets. Chapters on trade, investment, regional cooperation and foreign aid explore further the mechanisms through which technological change and innovative activities are emerging locally and internationally.

China's New Sources of Economic Growth: Reform, Resources and Climate Change -

China's New Sources of Economic Growth: Reform, Resources and Climate Change -
Author: Ligang Song
Publisher:
Total Pages:
Release: 2016-07-20
Genre: China
ISBN: 9781760460341

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China's change to a new model of growth, now called the 'new normal', was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China's economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year's Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China's economy and environment review change within China's new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China's economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China's economic development since 1978 is full of exciting change, and this year's China Update is again the way to know it as it is happening.

China's Dilemma

China's Dilemma
Author: Ligang Song
Publisher: ANU E Press
Total Pages: 446
Release: 2008-07-01
Genre: Science
ISBN: 1921536039

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China's Dilemma - Economic Growth, the Environment and Climate Change examines the challenges China will have to confront in order to maintain rapid growth while coping with the global financial turbulence, some rising socially destabilising tensions such as income inequality, an over-exploited environment and the long-term pressures of global warming. China's Dilemma discusses key questions that will have an impact on China's growth path and offers some in-depth analyses as to how China could confront these challenges. The authors address the effect of the global credit crunch and financial shocks on China's economic growth; China's contribution to greenhouse gas emissions and emissions reduction schemes; the environmental consequences of foreign direct investment in China; the relationship between air pollution and mortality; the effect of climate change on agricultural output; the coal industry's compliance with tougher regulations; and the constraints water shortages may impose on China's economy. It also emphasises the importance of managing the rising demand for energy to moderate oil price increases and placating domestic and international concerns about global warming. In the thirty years since China started on the path of reform, it has emerged as one of the largest and most dynamic economies in the world. This carries with it the responsibility to balance the requirements of key industries that are driving its development with the need to ensure that its growth is both equitable and sustainable. China's Dilemma highlights key lessons learned from the past thirty years of reform in order to pave the way for balanced and sustained growth in the future.

Deepening Reform for China’s Long-term Growth and Development

Deepening Reform for China’s Long-term Growth and Development
Author: Ligang Song
Publisher: ANU E Press
Total Pages: 596
Release: 2014-07-10
Genre: Business & Economics
ISBN: 1925021777

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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.

The Turning Point in China's Economic Development

The Turning Point in China's Economic Development
Author: Ross Garnaut
Publisher: ANU E Press
Total Pages: 407
Release: 2006-08-01
Genre: Business & Economics
ISBN: 1920942769

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Focuses on China's long-term pattern of growth and employment, demographic shifts, and rural-urban migration, its agricultural trade and local elections, China's banking sector reform and its fiscal sustainability, its environmental concerns, and much more.