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The Turning Point in China’s Economic Development

This edited volume delves into the profound economic transformation of China, with a particular focus on a looming turning point: the shift from an abundant to a limited labor supply. Leading analysts from China, the United States, and Australia explore the economic and policy implications of this demographic shift, examining various aspects of China’s development trajectory.

Recommended for:

  • Economists and policymakers concerned with China’s economic development and its impact on the global economy.
  • Scholars interested in the complexities of China’s growth model, labor market dynamics, and environmental challenges.
  • Anyone seeking a comprehensive understanding of China’s economic future at a critical juncture.

You will:

  • Gain insights into China’s long-term pattern of economic growth and employment.
  • Explore the demographic shifts and rural-urban migration trends shaping China’s workforce.
  • Analyze the impact of China’s agricultural trade and local elections on its economic development.
  • Understand the challenges and opportunities associated with China’s banking sector reform and fiscal sustainability.
  • Examine China’s interaction with the international economy, including its role in global imbalances.
  • Analyze the implications of China’s industrialization for its resource and energy demands.
  • Explore the environmental concerns associated with China’s economic growth.

Detailed Overview

This book offers a comprehensive analysis of China’s economic transformation at a critical turning point. It departs from the notion of a linear economic trajectory and emphasizes the fundamental shifts shaping China’s underlying economic structure. A central theme is the impending transition from a vast labor pool to a situation of labor scarcity.

The book tackles this central question through a collection of essays by leading experts, addressing various aspects of China’s development:

  • Growth and Employment: Several chapters explore China’s long-term growth patterns, analyze the impact of recent statistical revisions on growth accounting, and examine the relationship between employment and trade expansion. Specific studies investigate the challenges of labor scarcity and the role of the “guest-worker” system in mitigating these challenges.
  • Demographic Shifts and Rural-Urban Migration: The book delves into the demographic changes affecting China’s workforce, including population aging and the ongoing migration from rural areas to cities. An essay specifically focuses on how these demographic trends will constrain China’s labor supply by 2030.
  • Trade and Agriculture: The book examines China’s agricultural trade patterns after its accession to the World Trade Organization (WTO).
  • Financial and Fiscal Policy: Essays analyze the challenges and potential solutions for ensuring the sustainability of China’s banking sector and fiscal policy.
  • Global Context: The book explores China’s interaction with the global economy and its role in global imbalances,including the international currency system.
  • Resource and Energy Demands: The book examines China’s growing resource and energy demands associated with its industrialization, along with the environmental implications of these demands. Specific chapters address China’s resource needs at this turning point, the environmental challenges associated with economic growth and energy use, and strategies for harmonizing the coal industry with environmental sustainability.

Overall, this edited volume provides a rich and multifaceted perspective on China’s economic transformation at a critical juncture. By analyzing the challenges and opportunities presented by the shift in labor supply, the book offers valuable insights for policymakers, scholars, and anyone interested in the future of China’s economic development and its global impact.

Citation and Licensing

Ross Garnaut, Ligang Song (Eds.). (2006). The Turning Point in China’s Economic Development. This ebook is published by ANU Press and is publicly available on their website: https://press.anu.edu.au/publications/series/china-update/turning-point-chinas-economic-development

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