New Industrialization in Proper Perspective

Liu Shijin

Chinese Economy, 2007, vol. 40, issue 1, 31-43

Abstract: In order to follow the path of "new industrialization," one should look at it in proper perspective. Compared with traditional industrialization, "new industrialization" has some important characteristics. For example, new and high technology influences, integrates, and transforms traditional industries; industrial structure and resource allocation are increasingly internationalized; great transformations have taken place in developmental concepts and strategies; the completion time of similar industrialization stage is shortened. Around the controversial issues of accelerating growth and increasing the proportion of heavy industry, in-depth discussions have been held on what "new industrialization" is not. The purpose of the discussions is to clarify confusion and misunderstanding on the subject of "new industrialization."

Date: 2007
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