China needs a new model of urbanisation to match the shift to a new model of growth. For decades, both urbanisation and growth have been based on robust export demand, cheap labour, cheap land and artificially low pricing of environmental externalities. None of these can support growth or urban development in the future. This review examines the major challenges associated with the shift to a new model of urbanisation, looking at a
While the outlook for many OECD countries remains subdued, Emerging Asia is set for healthy growth over the medium term. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19.
Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased further thanks to agglomeration effects.
This review of regulatory reform in China covers the overall economic context, the government’s capacity to manage regulatory reform, competition policy and enforcement, and market openness.
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This paper depicts the rapid development and transformation of the Chinese economy so far and discusses how to sustain vigorous and inclusive growth.
This review assesses Guangdong’s current approach to economic development. It is the country’s most populous and rich province with 95.4 million inhabitants and provides one-eighth of the national GDP with "processing trade" as a key development feature.
As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.
This review highlights China’s advance to a market economy as among the greatest economic success stories of modern times. In simple terms, China has achieved in three decades what has taken most OECD countries a century or more.