LEADER 05130nam 2200541Ia 450 001 9910465838403321 005 20200520144314.0 010 $a1-299-28198-2 010 $a981-4425-55-9 035 $a(CKB)2560000000099545 035 $a(EBL)1143288 035 $a(OCoLC)830161983 035 $a(MiAaPQ)EBC1143288 035 $a(WSP)00002904 035 $a(Au-PeEL)EBL1143288 035 $a(CaPaEBR)ebr10674353 035 $a(CaONFJC)MIL459448 035 $a(EXLCZ)992560000000099545 100 $a20121022d2012 uy 0 101 0 $aeng 135 $aurcuu|||uu||| 200 02$aA new economic growth engine for China$b[electronic resource] $eescaping the middle-income trap by not doing more of the same /$feditors, Wing Thye Woo ... [et al.] 210 $aSingapore ;$aHackensack, N.J. $cWorld Scientific ;$aLondon $cImperial College Press$dc2012 215 $a1 online resource (307 p.) 300 $aDescription based upon print version of record. 311 $a981-4425-53-2 320 $aIncludes bibliographical references and index. 327 $aForeword 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 327 $a5. 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 327 $aA 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 327 $a1.3. 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 327 $aReferences 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 327 $a9. Pension Reform 3: Accelerate the Urbanization Process 330 $aThis 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 606 $aEconomic development$zChina 607 $aChina$xEconomic conditions$y2000- 607 $aChina$xEconomic policy$y2000- 608 $aElectronic books. 615 0$aEconomic development 676 $a338.951 701 $aWoo$b Wing Thye$0801544 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910465838403321 996 $aA new economic growth engine for China$92111666 997 $aUNINA