Zhang Jun
Can China Adapt?
SHANGHAI – China’s “Two Sessions” – the annual gatherings of the National People’s Congress and the Chinese People’s Political Consultative …
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SHANGHAI – China’s “Two Sessions” – the annual gatherings of the National People’s Congress and the Chinese People’s Political Consultative …
BEIJING – Despite fluctuations, China’s overall economic growth has been stable over the last three decades, owing not only to the economy’s…
BEIJING – China’s economic growth model is running out of steam. According to the World Bank, in the 30 years after Deng Xiaoping initiated …
BEIJING – Back in the last quarter of 2011, when the decline in China’s investment growth accelerated, concerns about a hard economic landin…
BEIJING – China’s leadership transition attracted global attention in 2012, and deservedly so, given the country’s global significance. But,…
BEIJING – The most recent official data show convincingly that the Chinese economy has bottomed out, and it is now widely expected that annu…
BEIJING – On October 26, the renminbi’s spot exchange rate against the US dollar reached the upper limit of its floating range for the secon…
BEIJING – China’s 12th Five-Year Plan calls for a shift in the country’s economic model from export-led growth toward greater reliance on do…
CLAREMONT – One of the most glaring, if unremarked, oddities concerning China nowadays is how perceptions of its leaders diverge depending o…
BEIJING – China’s annual GDP growth slowed to 7.6% in the second quarter of 2012, down from 8.1% in the first quarter and the lowest growth …
Is China ready to become a consumer society? How will Chinese sovereign investment and the rise of Chinese multinational companies affect the world economy? Can China tackle pollution and yet maintain growth? Will the effects of China’s one-child policy come to haunt tomorrow’s leaders?
If China’s recent history is any guide, another period of momentous change may be on the horizon. Every decade or so since Mao’s communists came to power in 1949 has seen a convulsive shift of gears – the Great Leap Forward, the Cultural Revolution, Deng Xiaoping’s economic reforms, the anti-government demonstrations of 1989 and their aftermath, and the emergence of China as a global economic power.
Today, if China changes, the whole world feels the impact. And who better to identify incipient changes and emerging trends in China’s surging economy than one intimately connected with the country’s highest-level internal debates: Yu Yongding.
Yu Yongding is a former member of the Monetary Policy Committee of the People’s Bank of China and current President of the China Society of World Economics.
Every month in Enter the Dragon, written exclusively for Project Syndicate, Yu Yongding examines the forces and trends that are shaping China’s economy – spelling out what they mean for the rest of the world.
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