Conclusion: The Fight for a New Growth Model

Horst Löchel () and Tim Jablonski ()
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Horst Löchel: Frankfurt School of Finance and Management
Tim Jablonski: Frankfurt School of Finance and Management

Chapter Chapter 9 in The Rise of China's Economy, 2025, pp 167-172 from Springer

Abstract: Abstract In the final chapter of this book, we argue that it is unlikely that the dominant policy approach of an innovation-led growth model, guided by the party-state, will be able to move China’s economy back to a sustainable long-term growth path that avoids the middle-income trap. The approach has two significant shortcomings: first, it still underestimates consumption as a growth driver; second, it tends to produce industrial overcapacity instead of the creation of breakthrough innovations. These weaknesses are the inherent result of the steering approach as the preferred economic model of the current policy.

Date: 2025
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DOI: 10.1007/978-3-031-80150-1_9

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