End of Hyper Growth in China?
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 eco
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End of Hyper Growth in China?
Jun Zhang
End of Hyper Growth in China?
Jun Zhang Fudan University Shanghai, China
ISBN 978-1-137-53717-1 ISBN 978-1-137-53718-8 DOI 10.1057/978-1-137-53718-8
(eBook)
Library of Congress Control Number: 2016942668 © The Editor(s) (if applicable) and The Author(s) 2016 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Nature America Inc. New York
PREFACE
I edited and published this book out of reasons both incidental and imperative. In the afternoon on May 12, 2013, I attended an academic seminar entitled “Interpreting Important Macroscopic Statistical Indicators” at the National School of Development at Peking University. People had intense discussions on the theme of the seminar at the meeting. In addition, they also had heated discussions on the potential of China’s economic growth in the future, both at the seminar and during the dinner after. Many spoke with concern and pessimism. Why have they ceased being optimistic? Is it because China has made many errors in the area of economic development? These questions haunted me on the CRH train from Beijing back to Shanghai. After thinking them over, I found that many of those much too pessimistic views were in fact mostly shallow conclusions, echoing what some other people had said. But these specious and absurd conclusions seem to be greatly popular in China at present. It was merely some kind of social phenomenon which was not worth making a fuss about. Then I suddenly realized that my own papers about the analysis on the prospects of growth, published on different occasions in recent years, formed a consistent perspective. If these could be put together in a book, it would be a positive response to these pessimistic theories. After all, there had been very little careful analysis and optimistic theories put forward in public forums in recent year
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