Tuesday, November 20, 2012

China's economic targets

Judging by China's recent performance, Hu Jintao's target might be seen as easily achievable. It implies economic growth of about 9.6% a year, which is rather less than the average over the last three decades. But that growth was based on some elements that can't last indefinitely.

In common with many emerging countries, China's economic success has involved a rapid increase in the number of industrial workers, many of them moving from rural to urban areas. There is a limit to that process, and China might be close to it already. Very high levels of investment have also been important, but they are not seen as sustainable.

There is also the central role that exports have played in China's growth. The uncertain outlook in many rich country markets casts a shadow over that too. Most economists think the transition that's needed is to an economy driven much more by...

Continue reading (+audio)

An important government meeting is taking place in Beijing. Leaders are trying to make plans that will improve the living standard for the population. What do you think it would take to improve your life? More money? A secure future?

No comments:

Post a Comment