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China’s economic growth model is running out of steam. According to the World Bank, in the 30 years after Deng Xiaoping initiated economic reform, investment accounted for 6-8 percentage points of the country’s 9.8% average annual economic growth rate, while improved productivity contributed only 2-4 percentage points.
Dismissing rumors of an impending trade war, He Weiwen promotes China-US business cooperation to solve America’s unemployment crisis and create a win-win scenario for both China and the United States.
While China and the United States have seen an uptick in the number of complaints brought before the World Trade Organization as well as outside actions increasing trade conflict, there are steps both nations may take to increase cooperation and remain competitive.
In a feat unmatched by other world powers, China’s economy survived its second soft landing in less than four years. However, as external factors continue to shock China, its economy has faced increasing vulnerability. Now, economic rebalancing and reform could hold the key to continued growth.
Zhang Yansheng writes that China’s economy will enter an important period of transition in 2013, and that the prospect of global economic growth remains troubling.
As masters of the universe prepare to meet in Davos, Switzerland for the 11th annual World Economic Forum, pessimism must not characterize perceptions of China.
2011 China-United States Exchange Foundation. All rights reserved.
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