One of China's most prominent technocrats Huang Qifan gave a speech last month on the "five changes in China's development strategy between now and 2035."
The end goal is for China's GDP to exceed $30 trillion by 2035, adding 1.4b to the world's high-income population of 1.1b.
The end goal is for China's GDP to exceed $30 trillion by 2035, adding 1.4b to the world's high-income population of 1.1b.
Some highlights (from my vantage point):
ECONOMY
1.1 Self-sufficiency in energy, agriculture, and manufacturing
1.2 Greater openness to foreign investment; greater involvement in international orgs
1.3 Import/export's share of GDP down to 25%; disposable income💹 to 50%
ECONOMY
1.1 Self-sufficiency in energy, agriculture, and manufacturing
1.2 Greater openness to foreign investment; greater involvement in international orgs
1.3 Import/export's share of GDP down to 25%; disposable income💹 to 50%
ENERGY
2.1 Cleaner development: CO2/GDP reaching EU/US levels by 2050
2.2 Global leadership in clean energy: #1 in manufacturing, consumption, and "transcontinental supergrids"
Huang makes this analogy:
China:clean energy = UK (Watt):steam engine = US (Ford):combustion engine
2.1 Cleaner development: CO2/GDP reaching EU/US levels by 2050
2.2 Global leadership in clean energy: #1 in manufacturing, consumption, and "transcontinental supergrids"
Huang makes this analogy:
China:clean energy = UK (Watt):steam engine = US (Ford):combustion engine
URBANIZATION
3.1 Urbanization has peaked in China; urbanization outside of the metropolitan clusters will slow
3.2 Growth driven by real estate and infrastructure will fall from 50% to 10%; real estate development will fall from this year's 1.7b m^2 to 1b m^2 (2010 levels)
3.1 Urbanization has peaked in China; urbanization outside of the metropolitan clusters will slow
3.2 Growth driven by real estate and infrastructure will fall from 50% to 10%; real estate development will fall from this year's 1.7b m^2 to 1b m^2 (2010 levels)
INNOVATION
4.1 Funding for basic science will increase from 5% of total R&D spending to developed country levels (15-20%)
4.2 Greater effort in product development - see Germany's Fraunhofer Society
4.3 Greater support from capital markets
4.1 Funding for basic science will increase from 5% of total R&D spending to developed country levels (15-20%)
4.2 Greater effort in product development - see Germany's Fraunhofer Society
4.3 Greater support from capital markets
COMMON PROSPERITY
5.1 Common prosperity epitomizes the superiority of the socialist system
5.2 The goal is not to eliminate differences, but to reduce the differences between individuals, regions, and urban-rural to a level that everyone finds acceptable
5.1 Common prosperity epitomizes the superiority of the socialist system
5.2 The goal is not to eliminate differences, but to reduce the differences between individuals, regions, and urban-rural to a level that everyone finds acceptable
5.3 Growing the pie forms the foundation of common prosperity. If redistribution shrinks the pie, then it is going against the principle of common prosperity.
Again, the goal is to more than double China's per capita GDP by 2035 to $25k. (The U.S.' today stands at $65k.)
Again, the goal is to more than double China's per capita GDP by 2035 to $25k. (The U.S.' today stands at $65k.)
"By 2035, the Chinese people will have a great deal more confidence in the theory, path, and institutions of our country. Other countries' relationship with China will also greatly improve."
Video of Huang's speech:
A rough version of the transcript (posts.careerengine.us/p/616d43a90eb4…)
Would be great if more of these technocrat speeches are translated in to English! The various annual econ forums (Fudan, Bund Summit) produce a lot of good material.
A rough version of the transcript (posts.careerengine.us/p/616d43a90eb4…)
Would be great if more of these technocrat speeches are translated in to English! The various annual econ forums (Fudan, Bund Summit) produce a lot of good material.
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