According to this very intelligent piece, “China is at a crossroads, and its real and sustainable growth depends on Beijing’s determination to solve the two most critical…issues – to revive its stalled market reform…and to further open...
scmp.com/week-asia/opin… via @scmpnews
scmp.com/week-asia/opin… via @scmpnews
@SCMPNews ...up its markets to all investors by scrapping state monopolies.” While I agree with much of this article, I disagree with this conclusion, which sounds a little too much like the recommendations the World Bank always makes for every country.
While it may be true that in...
While it may be true that in...
@SCMPNews ...the longer term these kinds of institutional reforms will allow Chinese businesses and workers to behave more productively, I would argue that over the next 5-7 years they will have little to no positive impact on sustaining growth and may even be dangerous. The only way...
@SCMPNews ...China can maintain current growth levels is with many years of large enough wealth transfers (2-4 percentage points of GDP annually) from the state sector to households to boost consumption growth to 8-10%, and this is extremely unlikely. Otherwise a sharp drop in growth to...
@SCMPNews ...below 3% (and probably lower) is inevitable once Beijing gets credit growth under control – perhaps over the next 3-4 years, but the sooner the better.
As I see it, advice on how to sustain current growth rates are useless, and mostly reflect a failure to understand the...
As I see it, advice on how to sustain current growth rates are useless, and mostly reflect a failure to understand the...
@SCMPNews ...Chinese economy. Current growth is not only not sustainable, but it is not even meaningful. Why is it so hard for mainstream economists to understand that capitalizing what should be expenses automatically boosts the GDP growth accounting without boosting real growth?
