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China's Innovation Challenge - Overcoming the Middle-Income Trap (Hardcover)
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China's Innovation Challenge - Overcoming the Middle-Income Trap (Hardcover)
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The miracle growth of the Chinese economy has decreased from a
compound annual growth rate of 10% to less than 7% in 2015. The two
engines of growth - export on a scale never before witnessed and
massive infrastructure investments - are reaching the point of
diminishing returns. This poses the central question which is
explored in this book - can China escape the middle-income trap?
Assuming current political arrangements remain unchanged and that
it does not or cannot adopt Western sociopolitical economic
regimes, can China develop an indigenous growth model centered on
innovation? This compilation gathers leading Chinese and other
international scholars to consider the daunting challenges and
complexities of building an innovation-driven Chinese growth model.
Providing several comprehensive perspectives, it examines key areas
such as the institutional system, technology, sociocultural forces
and national policy. The analyses and their conclusions range from
strong optimism to deep pessimism about China's future.
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