Conversation

07.23.13

What Would a Hard Landing in China Mean for the World?

Barry Naughton, James McGregor & more
Barry Naughton:Paul Krugman in a recent post (“How Much Should We Worry About a China Shock?” The New York Times, July 20, 2013) tells us NOT to worry about the impact of a slowing China on global exports, but to be worried, very worried about the...

China Must Deepen Reforms to Meet Economic Challenges

Reuters
The new leadership has signalled it is prepared to tolerate slower growth to move the economy away from export-led growth and towards one driven by domestic demand, with 7 percent annual expansion seen as the bottom line.  

I.M.F. Says China Needs Reform to Keep Growth Success

Reuters
China needs another round of “decisive measures” to make sure it continues its successful economic growth as its margins of safety are falling amid growing domestic problems, the International Monetary Fund said in its latest report. 

China Slump Ripples Globally

Alex Frangos and Eric Bellman
Wall Street Journal
As China hopes to reshape its economy to be less reliant on construction and heavy industry, and more reliant on consumer spending, the industries that benefited the most from China’s rise are now being hurt while those aimed at Chinese consumers...

Caixin Media

07.01.13

Renewed Growth on the New Third Board

The State Council announced on June 19 that it would expand the New Third Board, an over-the-counter (OTC) market for non-listed companies’ shares, to include all small and medium-sized enterprises (SMEs) nationwide.One of the experts estimated the...

Caixin Media

06.25.13

Legal, Economic Reforms Important At Coming Party Session

China’s blueprint for economic reform is finally taking shape. The government has appointed a taskforce to draft the plans, ahead of the third plenary meeting of the 18th Central Committee. With the country’s economy at the crossroads, these plans...

China’s Strength Could Become Its Weakness

John W. Schoen
NBC News
The heavy reliance on state investment produced unintended consequences. Overbuilding of housing created a real estate bubble. The investment a capacity to produce that overshot demand in a variety of areas. 

Tamping Down Expectations on China’s Growth

Bill Bishop
Deal Book
Mr. Xi also said “China will not sacrifice the environment for temporary economic growth” and that officials will be held responsible for pollution “for life.”  

As China’s Economy Stumbles, Government Eyes Reform

Bill Bishop
Deal Book
Urbanization and comprehensive economic reform are among the main hopes for supporting and improving the quality of China’s growth, as well as for commodity producers and investors globally. 

Caixin Media

03.09.13

Is Railway Reform Finally On Track?

Finally, it seems the railways ministry may soon be restructured as part of a wider exercise by the government to streamline its ministries. Putting railway reform on the agenda of this year’s meetings of the National People’s Congress and the...

Conversation

03.08.13

Will China’s Property Market Crash, and So What If It Does?

Dorinda Elliott & Bill Bishop
Dorinda Elliott:At this week’s National People’s Congress, outgoing Premier Wen Jiabao proclaimed that the government kept housing prices from rising too fast. Really? I wonder what my 28-year-old Shanghainese friend Robert thinks about that. He and...

Conversation

02.08.13

Rich, Poor and Chinese—Does Anyone Trust Beijing to Bust the Corrupt?

Andrew J. Nathan, Susan Shirk & more
Andrew Nathan:The new Chinese leadership under Xi Jinping seems to be making some bold opening moves with its attacks on corruption and the announcement on February 5 of plans to reduce the polarization of incomes.  Does this mean Xi is...

Analysis: New China Leaders Must

Nick Edwards
Reuters
Xiang Songzuo, the Agricultural Bank of China's chief economist says “stabilizing growth is a pre-condition for delivering on reform.”

Books

12.17.12

Socialism Vanquished, Socialism Challenged

Nina Bandelj, Dorothy Solinger (editors)
Socialism Vanquished, Socialism Challenged examines the twenty-year aftermath of the 1989 assaults on established, state-sponsored socialism in the former Soviet bloc and in China. Editors Nina Bandelj and Dorothy J. Solinger bring together prominent experts on Eastern Europe and China to examine the respective trajectories of political, economic, and social transformations that unfolded in these two areas, while also comparing the changes that ensued within the two regions. The volume features paired comparisons, with one chapter on the countries from the former Soviet bloc and one on China for each of the following themes: the reinstitutionalization of politics, the recasting of state-society relations, the reform of economic systems, changes in economic behavior, and transformations of social institutions. Despite differences in the specific substantive focus and disciplinary grounding among individual chapters, all chapters share a concern with the fate of the state in postsocialism. They elaborate on topics such as the transformations of the old socialist state and its nature, activities and roles; civil society before and after 1989; the ways in which the state has, or has not, acted to encourage new forms of economic behavior; and the state's responsibility for societal trends, whether in family formation, in protest or in inequality. Taking a unique approach to understand twentieth-century socialism on a global scale, Socialism Vanquished, Socialism Challenged uncovers insights about political models and economic patterns that have emerged in the grand project of the transition from socialism. —Oxford University Press

China May Delay Plan to Reform Income Distribution

Feifei Shen
Bloomberg
Analysts are focused on how quickly China’s new leaders will implement economic changes to spur a shift to a consumerism. 

China’s Reforms–Now Comes the Hard Part

William Kazer
WSJ: China Real Time Report
Since taking the reins of the Communist Party last month, Mr. Xi has chosen his words—and his symbols—carefully. His first tour outside of Beijing since taking the top job was to Guangdong—which spearheaded China’s economic reforms and was the...

China Trade Slowdown Shows Xi Must Fuel Consumption

Zheng Lifei and Zhou Xin
Bloomberg
The new Communist leaders must reduce China’s reliance on exports to sustain expansion as the country faces a wealth gap that runs a risk of fomenting social unrest.

Xi Jinping heads to Shenzhen on first inspection trip

Fiona Tam and He Huifeng
South China Morning Post
It is a move political observers say pays tribute to the famous southern tour of Deng Xiaoping in 1992 and sends a signal of commitment to deepening reform. A Shenzhen propaganda official said Xi, who will succeed Hu Jintao as president in...

China GDP: If Not 10%, Then What

Rahul Jacob
Financial Times
Standard Chartered economist says China's GDP is likely to grow 7% over the next five years without big interim reforms.

Caixin Media

11.17.12

As 18th Congress Ends, a Peek into the Process

Over the past twenty years, economist Zhang Zhuoyuan has witnessed and actively participated in building the nation’s economic policy.He participated in the drafting of reports at each of the Communist Party’s three previous national congresses,...

Viewpoint

11.14.12

Are You Happier Than You Were Ten Years Ago?

J. Michael Evans
“Many Chinese feel that they have not participated in the economic benefits of an economy that has been growing very rapidly,” says Michael Evans, a vice chairman of the Goldman Sachs Group and head of growth markets for the Wall Street...

Viewpoint

11.09.12

Pragmatism and Patience

Hamid Biglari
Hamid Bilgari, Vice Chairman of Citicorp, the strategic arm of Citigroup, is a leader in international investment banking. Bilgari says that pragmatism and patience are the dominant qualities exhibited by cultures facing major change, such as...

Caixin Media

11.02.12

18 Reforms for the Party’s 18th Congress

China’s leadership handover comes at a critical moment for society and the economy, and changes are in order.The 18th National Congress of the Communist Party this month comes at a critical time described by economist Wu Jinglian as “a tipping...

Reports

04.30.12

Leadership Transition and the “Top-Level Design” of Economic Reform

Barry Naughton
He Jianan
China Leadership Monitor
As China’s 18th Party Congress looms, it is clear that we are now in the thick of transition. The impending transition creates uncertainty about China’s future, but it also opens up new possibilities. Already, the discussion of economic policies in...

Reports

11.01.10

Did Higher Inequality Impede Growth in Rural China?

Dwayne Benjamin, Loren Brandt, and John Giles
World Bank
Since the start of economic reform in the early 1980s, China has experienced plenty of growth and inequality; per capita income has grown nearly 8 percent annually, while the Gini coefficient rose from 0.28 to 0.39. Using a rich longitudinal survey...

Reports

09.01.09

What Drives China's Interbank Market?

Nathan Porter and TengTeng Xu
Sara Segal-Williams
International Monetary Fund (IMF)
Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We...

Reports

01.31.06

The Dynamics of Provincial Growth in China: A Nonparametric Approach

Bulent Unel and Harm Zebregs
International Monetary Fund (IMF)
China's growth record since the start of its economic reforms in 1978 has been extraordinary. Yet, this impressive performance has been associated with an increasing regional income disparity. The authors use a recently developed nonparametric...

Reports

10.01.01

Beginning the Journey: China, the United States, and the WTO

Chair: Robert D. Hormats Director: Elizabeth C. Economy
Elizabeth Economy
Council on Foreign Relations
The main finding of this report is that both the United States and China will run risks as Beijing moves ahead with membership in the World Trade Organization (WTO), but the potential payoffs for both countries are well worth it. It also points out...

Reports

02.01.00

The Joint Stock Share System in China’s Nanhai County

David J. Bledsoe and Roy L. Prosterman
Landesa
Between 1979 and 1983, China made the dramatic transition from a socialist agriculture dominated by large collective farms to a more market-oriented agriculture dominated by small family farms. This report describes the experiment’s background in...

Reports

07.19.99

Trade and the Transformation of China

Dan Griswold, Ned Graham, Robert Kapp, and Nicholas Lardy
Cato Institute
Congress will soon consider whether to revoke normal trade relations (NTR) with China and then, possibly in the fall, whether to make NTR permanent as part of China’s anticipated entry into the World Trade Organization. The consequences of...