Why China’s Economy Will Be So Hard to Fix
- 8 years ago
China’s economy grew an average 10 percent for 30 years, lifting 500 million people out of poverty.
With those heady rates now in the past, its leaders are ditching the old investment and export growth model in favor of markets, consumers and services.
Here's how the transition is playing out.
China is struggling to meet its growth targets, its economy is shifting to services, the embrace of markets is proving rocky.
As China grapples with its transition, the stakes are high.
Policy errors or a deep slowdown could see it fall into the middle-income trap that has caught so many other developing nations after eras of robust growth.
If China’s leaders pull it off, the country will continue its march to become the world's largest economy.
With those heady rates now in the past, its leaders are ditching the old investment and export growth model in favor of markets, consumers and services.
Here's how the transition is playing out.
China is struggling to meet its growth targets, its economy is shifting to services, the embrace of markets is proving rocky.
As China grapples with its transition, the stakes are high.
Policy errors or a deep slowdown could see it fall into the middle-income trap that has caught so many other developing nations after eras of robust growth.
If China’s leaders pull it off, the country will continue its march to become the world's largest economy.