This presentation discusses the experience of Chinese economic growth in the past forty years (1978–2017). It assesses the outcomes and policy implications of economic restructuring and rebalancing since 2012, in response to the challenges and constraints resulting from the old model of growth. It discusses the key drivers for rapid growth in the past. Against these, it analyses the slower present growth. Finally, it presents a possible trajectory for future growth resulting from fundamental changes in government strategies and policies with respect to domestic reform, demographic change, technological progress, and the changing external environment. It highlights a few challenges that China faces now in getting the economy moving beyond the current mid-income phase.
Ligang Song is Professor in Crawford School of Public Policy, and Director of China Economy Program at the Australian National University. He teaches graduate courses in Institutional Economics and Development Economics and supervises several PhD students specialising in transition and developing economies in Crawford School of Public Policy. His research interests include international economics, institutional economics, economic growth and development economics, and the Chinese economy. His main publications are in areas of international trade, economic development and transition economies. He has been a co-editor in publishing the China Update book series with the Australian National University Press and the Social Sciences Academy Press of the Chinese Academy of Social Sciences (CASS), and the convener for organising the annual China Update conferences at the Australian National University.
All attendees are invited to join us in the CIW Tea House for informal discussion with the guest speaker after the seminar. With the consent of speakers, seminars are recorded and made publicly available through the Seminar Series’ website to build an archive of research on the Sinophone world.
The ANU China Seminar Series is supported by the China Institute and the Australian Centre on China in the World at The Australian National University’s College of Asia & the Pacific.