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China is historically famous for its high demographic dividend and
its huge working population, and this has driven tremendous
economic growth over the past few decades. However, that population
has begun to shrink and the Lewis turning point whereby surplus
rural population has been absorbed into manufacturing is also
approaching, leading to great change in the Chinese labor market.
Will this negatively affect China's economic growth? Can the
"Middle-Income Trap" be avoided? What reforms should be made on the
labor supply side? This book tackles these key questions. This book
is a collection of 14 papers presenting the author's observations,
analysis, and opinions of China's long-term economic development
from the demographic perspective, while analysing real economic
problems from the past and including policy recommendations. It
provides a critical reference for scholars and students interested
in Chinese economic development and demographic perspectives on
economic development.
HUANG Yiping is Professor of Economics at the China Center for
Economic Research, National School of Development, Peking
University, China. He is also an adjunct professor at the
Australian National University and a member of the China Finance 40
Forum. His current research focuses on macroeconomic policy,
international finance and rural development. CAI Fang is Director,
Professor and Fellow at the Institute of Population and Labor
Economics, Chinese Academy of Social Sciences, China. He serves as
Vice Chairman of the China Population Association. His current
research focuses on China's labor migration, population and
development, economic reform, income distribution and poverty.
This volume introduces readers to the achievements made in the
context of China's reform and opening up. It tells China's story
with regard to twelve aspects: the reform path, opening up,
macro-economy, regional development, the "three rural" policy,
poverty alleviation, industrial development, scientific and
technological leadership, ecological civilization, human resources,
social security, and income distribution. On the one hand, China's
successes and lessons learned in this regard - e.g. the
establishment of special economic zones and pilot zones in advance,
followed by the implementation of regional development strategies -
can be condensed into a general sense of Chinese wisdom. On the
other, China's participation in economic globalization and global
economic governance can serve as a role model, helping developing
countries overcome poverty and move towards modernization. As China
accounts for nearly one fifth of the world's total population, the
problems and difficulties that it faced at the beginning of reform
and opening up are similar to those of many developing countries;
therefore, it can provide valuable guidance for developing
countries in the form of Chinese wisdom and Chinese approach.
This book reviews and examines the reform and opening up in China
from 1978 to 2011. It analyzes how China avoided to fall into the
middle-income trap over those 33 years. The book makes a deep
analysis of understanding how Chinese economy became a miracle in
the world economic history and its development stages, as well as
the overseas erroneous understanding of the existence of Chinese
economy. The author analyzes from three aspects: how to break the
"impossible triangle", how to achieve middle-to-high speed growth
in L model, and how to release a new dividend of urbanization.
After Chinese economy entered the Lewis turning point, China faced
the dilemma of labor transformation and the disappearance of
demographic dividend, the demographic dividend turned to the reform
dividend. The author points out and suggests that a new round of
growth should be achieved by improving the total factor
productivity in order to find a new way for the Chinese economy.
This book plays an important role of comprehending Chinese economy
under current complex economic situation. This book helps readers
to understand Chinese economy from many aspects: impossible
triangle, L model growth, Malthus trap, dual economy, aging
problem, demographic dividend, reform dividend, trap of middle
income, globalization, etc. The author as an economist aims for the
public explaining the professional knowledge in a concise and easy
way. This book delivers the information of discerning and
understanding the economic trend, and predicting the future.
This volume introduces readers to the achievements made in the
context of China's reform and opening up. It tells China's story
with regard to twelve aspects: the reform path, opening up,
macro-economy, regional development, the "three rural" policy,
poverty alleviation, industrial development, scientific and
technological leadership, ecological civilization, human resources,
social security, and income distribution. On the one hand, China's
successes and lessons learned in this regard - e.g. the
establishment of special economic zones and pilot zones in advance,
followed by the implementation of regional development strategies -
can be condensed into a general sense of Chinese wisdom. On the
other, China's participation in economic globalization and global
economic governance can serve as a role model, helping developing
countries overcome poverty and move towards modernization. As China
accounts for nearly one fifth of the world's total population, the
problems and difficulties that it faced at the beginning of reform
and opening up are similar to those of many developing countries;
therefore, it can provide valuable guidance for developing
countries in the form of Chinese wisdom and Chinese approach.
This timely volume on China's economic "New Normal" features
articles by leading scholars from the Chinese Academy of Social
Sciences and other research institutions across the country. A
broad range of perennial as well as hot-bottom topics related not
just to economic growth but also to its social and political
ramifications are covered, including patterns of growth, income
distribution, domestic consumption, the global economic dynamics,
and policy responses to these and other developments. Contributors
not only combine theoretical and empirical analyses of these
critical issues but also examine the historical background and the
social context to what may be one of the most significant
developments not just for China but also for the rest of the world.
This book explains why China’s opening-up policy can boost the
rapid growth of its economy. Based on concrete facts and economic
logic, it offers a brief introduction to the history of China’s
successful development, which has unprecedentedly helped improve
people’s lives and community welfare over the past 30 years. In
light of the newly emerging problems, the author assesses the
different stages of China’s economic development and new
challenges, illustrating how the country’s sustainable growth
could be achieved through further reforms so as to complete the
transition from a middle-income to high-income country. He moves on
to discuss the lessons learned from China’s experiences and
summarizes their significance for other developing countries, while
also clarifying popular misconceptions such as the “China
Menace†and “Theory of China’s Collapse.†Taking the logic
of economic development as a basis and employing economic norm
analysis methods, the book describes China’s economic miracle in
plain but vivid language and attempts to enrich the economic
development theory through China’s experience.
China is historically famous for its high demographic dividend and
its huge working population, and this has driven tremendous
economic growth over the past few decades. However, that population
has begun to shrink and the Lewis turning point whereby surplus
rural population has been absorbed into manufacturing is also
approaching, leading to great change in the Chinese labor market.
Will this negatively affect China's economic growth? Can the
"Middle-Income Trap" be avoided? What reforms should be made on the
labor supply side? This book tackles these key questions. This book
is a collection of 14 papers presenting the author's observations,
analysis, and opinions of China's long-term economic development
from the demographic perspective, while analysing real economic
problems from the past and including policy recommendations. It
provides a critical reference for scholars and students interested
in Chinese economic development and demographic perspectives on
economic development.
This book aims at China's economic and social development, which
has embarked on a new journey. It collects more than 20 major
research achievements of researchers in relevant fields of the
Chinese Academy of Social Sciences. These topics cover rural
revitalization and anti-poverty, industrialization and
manufacturing transformation, service industry upgrading, fiscal
and taxation system and fiscal sustainability, major financial
reform, industry and competition policy, ownership structure, new
pattern of opening up, digital economy, innovation driven,
financial stability, macro-control, new urbanization, regional
development, ecological environment, aging population, labor
market, income distribution, social governance, people's
livelihood, social security, the rule of law, cultural power, and
other major issues. This book helps people from all walks of life
better understand and grasp the new trends, opportunities, and
challenges of China's economic and social development in the future
and provides useful reference for thinking about China's medium and
long-term development strategy and development path.
This book focuses on the global economy, oil industry, natural gas
industry, hydrogen energy industry, wind power industry, and
low-carbon market in the post-pandemic era of China and the whole
world. It provides the overview of the China's energy economy
development in 2021 and has an in-depth analysis of the future
development trends of the oil and gas and new energy industries. It
aims to present Chinese insights on the development of the energy
industry of China and the world.
This book analyzes the characteristics of China's economic
operation in the new era and explores Xi's thought on China's
development. The book consists of six parts. The first part puts
forward the guiding principles and main contents of political
economy of socialism with Chinese characteristics in the new era;
the second part conducts the epistemology and methodology; the
third part reveals the big logic of the new normal of economic
development from the time and space dimension; and the fourth part
examines the purpose, motivation, necessary conditions and
measurement scale of development according to the new development
concept; the fifth part discusses the path of building a modern
economic system; the sixth part focuses on what China Wisdom and
China solution could contribute to the global governance and
promoting global development.
This book reviews and examines the reform and opening up in China
from 1978 to 2011. It analyzes how China avoided to fall into the
middle-income trap over those 33 years. The book makes a deep
analysis of understanding how Chinese economy became a miracle in
the world economic history and its development stages, as well as
the overseas erroneous understanding of the existence of Chinese
economy. The author analyzes from three aspects: how to break the
"impossible triangle", how to achieve middle-to-high speed growth
in L model, and how to release a new dividend of urbanization.
After Chinese economy entered the Lewis turning point, China faced
the dilemma of labor transformation and the disappearance of
demographic dividend, the demographic dividend turned to the reform
dividend. The author points out and suggests that a new round of
growth should be achieved by improving the total factor
productivity in order to find a new way for the Chinese economy.
This book plays an important role of comprehending Chinese economy
under current complex economic situation. This book helps readers
to understand Chinese economy from many aspects: impossible
triangle, L model growth, Malthus trap, dual economy, aging
problem, demographic dividend, reform dividend, trap of middle
income, globalization, etc. The author as an economist aims for the
public explaining the professional knowledge in a concise and easy
way. This book delivers the information of discerning and
understanding the economic trend, and predicting the future.
This book explains why China's opening-up policy can boost the
rapid growth of its economy. Based on concrete facts and economic
logic, it offers a brief introduction to the history of China's
successful development, which has unprecedentedly helped improve
people's lives and community welfare over the past 30 years. In
light of the newly emerging problems, the author assesses the
different stages of China's economic development and new
challenges, illustrating how the country's sustainable growth could
be achieved through further reforms so as to complete the
transition from a middle-income to high-income country. He moves on
to discuss the lessons learned from China's experiences and
summarizes their significance for other developing countries, while
also clarifying popular misconceptions such as the "China Menace"
and "Theory of China's Collapse." Taking the logic of economic
development as a basis and employing economic norm analysis
methods, the book describes China's economic miracle in plain but
vivid language and attempts to enrich the economic development
theory through China's experience.
This volume first examines projected demographic changes that will
affect the economic well-being of China s rural elderly over the
next twenty years, taking into account both China s sharp
demographic transition and the continued migration of young adults
into cities. The projected old age dependency ratio of 34 percent
in China s rural areas by 2030 suggests that support of the elderly
is likely to be an increasing burden on China s families over the
next twenty years. The book next documents the sources of financial
support, poverty incidence and vulnerability of the rural elderly
since the early 1990s. China s rural elderly have been consistently
poorer and more vulnerable to poverty than both working age
households and the urban elderly. In contrast to the urban elderly
who frequently have pension support, the rural elderly typically
rely either on their own labor income or financial support from
adult children. A substantial share of China s rural elderly
continue to work well beyond the age 70, but labor as a primary
source of support falls sharply during their 60s. Additional
evidence suggests that the rural elderly work well beyond 60 out of
necessity and only stop working when physically incapacitated.
While average transfers from adult children to elderly parents are
sufficient to keep them out of poverty, adult migrant children with
uncertain income create the risk that transfers will not be
sufficient to keep some rural elderly out of poverty. The final
sections of the book review experiences with rural pensions during
the 1990s and 2000s and draws out the lessons which have informed
the design of a new national rural pension scheme. Among the many
issues discussed, the report highlights the importance of providing
incentives for participation in the pension scheme and important
issues related to the portability of pensions for a mobile
population."
This book presents empirical observations and theoretical thinking
of the fundamental changes in the Chinese economy. It starts with a
warning of the arrival of the Lewis Turning Point, which is
empirically proven by disappearance of surplus labor force and a
rapid increase in wages of unskilled workers. It further reveals
that China's rapid population-aging trend is diminishing the
demographic dividend that has kept China's economic growth rate
high. Subsequently, it touches upon employment challenges that
arise after reaching the Lewis Turning Point, further propelling
urbanization, a balanced regional development, and so on. Finally,
it introduces middle-income trap which is one of the biggest
challenges China is facing, followed by recommendation of policies
for the Chinese government to tackle the challenges ahead.This book
should be of great interest to graduates, undergraduates,
researchers and specialists who follow closely the economic
development and demographic transition of China, the world's most
populous country.
Dieses Buch erlautert, warum Chinas Reform- und OEffnungspolitik
erfolgreich das schnelle Wirtschaftswachstum foerdern konnte.
Anhand einer sachlichen Darstellung sowie der analytischen
wirtschaftswissenschaftlichen Logik wird die erfolgreiche
Entwicklung Chinas in den vergangenen vierzig Jahren
zusammengefasst, die in dessen Geschichte zu beispiellosen
Verbesserungen hinsichtlich des Lebens der Bevoelkerung und der
grundlegenden oeffentlichen Dienstleistungen gefuhrt hat. Die
wirtschaftlichen Entwicklungsstadien Chinas werden bewertet und
neue Herausforderungen sowie Aufgaben aufgezeigt. Zudem werden
Gedanken hervorgebracht, wie eine Abwendung von der Abhangigkeit
bezuglich der demografischen Dividende und gleichzeitige Hinwendung
zur Reformdividende erzielt werden kann. Es wird nach Wegen
gesucht, ein nachhaltiges Wirtschaftswachstum aufrechtzuerhalten,
die mittlere Einkommensphase zu uberwinden und den UEbergang zur
hohen Einkommensphase zu erreichen. Dieses Buch bedient sich der
normativen Analysemethoden der Wirtschaftswissenschaften, um anhand
der Logik der Reform- und OEffnungspolitik und mithilfe von einem
einfachen Sprachstil uber das chinesische Wirtschaftswunder zu
erzahlen. Unter der Hinzunahme von Chinas Erfahrungen, der
chinesischen Weisheit sowie dem chinesischen Konzept wird bestrebt
die Wirtschaftsentwicklungstheorie zu bereichern.
El problema actual de distribucion de ingresos de China tiene la
universalidad presentada en el proceso del rapido desarrollo de los
paises de economia de mercado, tambien cuenta con la especialidad
causada de los mecanismos institucionales chinos. Observar y
comprender este problema requiere no solo comenzar con las leyes
generales del desarrollo de la economia de mercado, sino tambien
aun mas con los sistemas y mecanismos especiales de China. En base
de esto, el libro ha abordado los temas como la presentacion y la
esencia de la distribucion del problema de ingresos de China, la
brecha de ingresos y el riesgo de la trampa de ingresos medios, los
niveles salariales y la proporcion de compensacion laboral, asi
como los cambios en el mercado laboral, impacto de la reforma
fiscal y la seguridad social en la distribucion del ingreso.
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