ADB Seminar on Sustaining China’s Growth: Challenges and Policy Issues

Event | 25 May 2012 Asian Development Bank Institute

Date: Friday, 25 May 2012 / 2012年5月25日(金)

Time: 11:00-11:50

Venue: Asian Development Bank Institute (ADBI)/アジア開発銀行研究所

Address: Kasumigaseki Building 8F, 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo (東京都千代田区霞が関3-2-5 霞ヶ関ビル8階)

Language: English (Word by word interpretation in Japanese) / 英語(日本語の逐次通訳あり)

The Chinese economy has been growing at about 10% per annum on average in the last 3 decades, and the rapid growth has led to a dramatic reduction in extreme poverty and significant improvement in the living standard for the Chinese people. The rapid economic expansion has also led to a sharp rise in the country's importance in a global economy. China is now the world's largest exporter, and the second largest economy.

China's impressive achievements, however, cannot make one to lose sight of major challenges it faces. It is just passed the threshold of the upper-middle income country status, with still large technological and productivity gaps with advanced economies. Moreover, rapid growth has brought to surface a number of structural problems and new issues. These include, among others, imbalances in the sources of growth, rising income inequality, resource constraints and environmental degradation, and, more recent, rising wages. If not effectively addressed, these problems could hinder the country's continued progress, and increase its risk of falling into the so-called middle income trap.

At this seminar, Dr Juzhong Zhuang of ADB's Economics and Research Department will present some of the key findings of an on-going ADB study on Sustaining China's Growth: Challenges and Policy Issues.