China: A Study of Dynamic Growth

Matthew Shane and Fred Gale

No 401297, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: Few countries have been able to match China’s sustained economic growth, which has averaged more than 8 percent annually since 1978. The combination of size and rapid growth make China’s economy a major driver in global economic change. China’s growth has been largely investment driven, with investment consuming roughly 40 percent of gross domestic product. Gains in factor productivity were realized after China abandoned strict central planning. China’s opening to foreign trade and investment has also been a key to growth. Conditions suggest that rapid growth will continue in coming years. However, the Chinese economy faces potentially unsustainable pressures, including possible currency appreciation, rising rural-urban inequality, unemployment, banking reforms, and an unusual combination of inflationary and deflationary tendencies that could slow China’s growth.

Keywords: Community/Rural/Urban Development; Consumer/Household Economics; Financial Economics; International Relations/Trade; Labor and Human Capital; Public Economics (search for similar items in EconPapers)
Pages: 20
Date: 2004-10
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:401297

DOI: 10.22004/ag.econ.401297

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