In this book, Dr. Jun Zhang rebuts the widely-held view that Chinese economic growth is unsustainable due to low consumption and a reliance on exports and enormous fixed-asset investments. Though many believe this "structural imbalance" of the Chinese economy will become a serious problem in the long run, Zhang holds a bullish long-term outlook owing to China's long-term economic development. For Zhang, China's structural problems are greatly exaggerated and certain structures, such as regional governing entities, ensure that China will not face the same economic issues that Japan encountered. Through regional competition, regional governments will persevere; Zhang predicts that China will overtake the US as a superpower. Zhang concludes by acknowledging the real dangers facing China's economy, and offering advice on the reforms needed to ensure continued growth.

Autorentext
Professor Jun Zhang is one of China's leading economists and a highly sought after commentator on its economy. Recent academic contributions have been to The World Economy, China Economic Review, Economic Systems, the Journal of Asian Economics, the Journal of the Asia Pacific Economy, and the East Asian Review.

Inhalt

1. China's Transition in its Growth Stage Will Become Steadier: A Talk with Barry Naughton.- 2. Does Tax-sharing System Make Sense? Understanding China's Growth Miracle.- 3. The Coming Dominance of China: Fact or Fiction? (Part I).- 4. The Coming Dominance of China: Fact or Fiction? (Part II).- 5. Debunking the Myth about China's Low Consumption.- 6. China's Economy in Ten More Years.- 7. Deng Xiaoping Is Right: Understanding the New Stage in China's Economic Development.- 8. Crisis, Reform and China's Long Term Growth.- 9. Know the Future from Studying the Past: Estimation on the Potential Growth Rate and the Tendency of Structural Change of the Chinese Economy in Twenty Years in the Future.