Lo, Dic (2018) 'Consideration on China’s New Normal Economic Growth.' Journal of China and International Relations, 6 (1). pp. 73-94.
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Abstract
Slowdown in economic growth is the defining characteristic of the ‘New Normal’ of the Chinese economy post-2008. Explanations of the slowdown have coalesced around the theses of demand deficiency and profitability decline. This paper dissects the theoretical reasoning and empirical backings of these theses, with a view of clarifying the structural-institutional conditions that underpin the economic performance. On that basis, the paper arrives at the judgement that, long term, whether or not China is able to sustain medium-speed growth or even to resume high-speed growth hinges on the rivalry between two models of economic transformation that have both been operating in the economy in recent years: namely, a production-oriented model versus a speculation-oriented model.
| Item Type: | Journal Article |
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| Keywords: | China, growth, demand, profitability |
| SOAS Departments & Centres: | Departments and Subunits > Department of Economics |
| Subjects: | H Social Sciences > HC Economic History and Conditions |
| ISSN: | 22458921 |
| Copyright Statement: | Articles published in Journal of China and International Relation are following the license Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported (CC BY-NC-ND 3.0): http://creativecommons.org/licenses/by-nc-nd/3.0/ Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License: Attribution - NonCommercial - NoDerivs (by-nc-nd). Further information about Creative Commons: https://creativecommons.org/about |
| DOI (Digital Object Identifier): | https://doi.org/10.5278/ojs.jcir.v6i1.2364 |
| Date Deposited: | 30 Jul 2019 08:49 |
| URI: | https://eprints.soas.ac.uk/id/eprint/31378 |
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