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China’s “New Normal”: Structural Change, Better Growth, and Peak Emissions

Fergus Green and Nicholas Stern

China’s “New Normal”: Structural Change, Better Growth, and Peak Emissions

China has grown rapidly—often at double-digit rates—for more than three decades by following a strategy of high investment, strong export orientation, and energy-intensive manufacturing. While this growth lifted hundreds of millions out of poverty, it also heightened problems of inequality—personal...