China’s Economy at the Crossroads

Klaus-Jürgen Gern and Philipp Hauber
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Klaus-Jürgen Gern: Institut für Weltwirtschaft

A chapter in Understanding China’s Real Estate Markets, 2021, pp 35-52 from Springer

Abstract: Abstract The Chinese economy has experienced impressive growth since the late 1970s, driven by ongoing market-based reforms as well as integration into the world economy. However, growth has been biased toward the industrial sector, investment, and exports. The recent buildup of private sector debt, rising inequality, and increasing environmental problems are casting shadows over the economic outlook. The chapter discusses the roots of the growth miracle as well as complications that have arisen in recent years as a result of a more challenging international environment, imbalanced growth in the domestic economy, and limited appetite to implement further liberalization.

Keywords: China; Economic growth; Economic reforms; Financial crisis (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-71748-3_4

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