A new economic growth engine for China [[electronic resource] ] : escaping the middle-income trap by not doing more of the same / / editors, Wing Thye Woo ... [et al.]

• Record Nr.: UNINA9910465838403321
• Pubbl/distr/stampa: Singapore ; ; Hackensack, N.J., : World Scientific; London, : Imperial College Press, c2012
• ISBN: 1-299-28198-2; 981-4425-55-9
• Descrizione fisica: 1 online resource (307 p.)
• Altri autori (Persone): WooWing Thye
• Disciplina: 338.951
• Soggetti: Economic development - China; Electronic books.; China Economic conditions 2000-; China Economic policy 2000-
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Foreword Shangli Lin; Contents; List of Contributing Authors and Editors; Part I. A New Economic Growth Engine for the 21st Century: Change Out Not Scale Up the Present Policy Regime; The Major Types of Middle-income Trap That Threaten China Wing Thye Woo; 1. A New Stage in China's Economic Development but Will This be the Permanent Stage?; 2. Defining the Middle-Income Trap; 3. What Could Cause China to Fall into the Middle-Income Trap?; 4. The Likely Hardware Failures: Fiscal Stress from the State Banks and Low Productivity Growth from the State Enterprises; 5. The Likely Software Failures Are from Flaws in Governance 6. The First Type of Likely Power Supply Failure Is Environmental Collapse in China; 7. The Second Type of Likely Power Supply Failure Is Trade Protectionism; 8. The Hardware Reform Agenda; 9. The Software Reform Agenda; 10. Dealing with Power Supply Failure Caused by Environmental Degradation; 11. Dealing with Power Supply Failure Caused by Trade Protectionism; 12. Final Remarks; References; Part II. Short-term Demand Management: Working the Hardware Correctly; A Prediction of China's Economy in 2012: Soft Landing and Back to the Normal Gang Fan and Liping He 1. Background and Origins of the Current Macroeconomic Movement; 2. 2011: Soft Landing Is in Progress; 3. The Outlook of China's Economy and Policy Guidelines in 2012; The Correction of China's Twin Surpluses Yongding Yu; The Long-run Growth and Short-run Fluctuations of the Chinese Economy Zhigang Yuan and Yuxin Yu; Introduction; 1. Long-Run Trend of Economic Growth in China; 1.1. Changes in labor supply; 1.2. Changes in capital accumulation; 1.3. Changes in Total Factor Productivity (TFP) growth 1.4. Rising environmental cost; 2. Short-Run Fluctuations of the Chinese Economy; 2.1. The four-trillion-yuan fiscal stimulus plan; 2.2. The recent contractionary monetary policy; 2.3. The impact of administrative changes; 2.4. The impact of real estate regulations; 2.5. What is the likely macroeconomic situation in 2012?; 3. The Major Reforms Needed in the Future; 3.1. Reforms in the labor market; 3.2. Reforms in the land market; 3.3. Reforms in the financial market; 3.4. Transformation of the governmental function; 4. Conclusion; References Part III. Institutional Reforms for Middle-term Growth: Upgrading the Hardware and Software; Reforming China's Public Pension System: Coping Effectively with Aging, Urbanization and Globalization Jin Feng and Lixin He; 1. Introduction; 2. The Basics of the Current Pension System; 3. The Problem Posed by an Aging Society; 4. The Incentive Problem in Basic Old Age Insurance; 5. The Problem of Low Investment Return on Pension Funds; 6. The Problem of Inequality in Pension Benefit; 7. Pension Reform 1: Raise Labor Participation Rate; 8. Pension Reform 2: Improve Labor Productivity; 9. Pension Reform 3: Accelerate the Urbanization Process
• Sommario/riassunto: This volume is a report by leading international economic experts on China's economic priorities in the coming years. From various aspects of the domestic and foreign situation, China has now reached a critical juncture in its economic development. Unless China is able to overcome the difficulties in undertaking further reforms in the next ten years, China would be caught in the middle-income trap and be unable to become a modern country. The future course of China's economic development is also of great concern to the rest of the world because the socio-political-economic conditions in China