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China's Economic Transformation: Lessons, Impact, and the Path Forward

Author

Listed:
  • Tomas Hellebrandt

    (Peterson Institute for International Economics)

  • Jacob Funk Kirkegaard

    (Peterson Institute for International Economics)

  • Robert Z. Lawrence

    (Peterson Institute for International Economics)

  • Paolo Mauro

    (Peterson Institute for International Economics)

  • Silvia Merler

    (Bruegel)

  • Sean Miner

    (Peterson Institute for International Economics)

  • Jeffrey J. Schott

    (Peterson Institute for International Economics)

  • Nicolas Veron

    (Peterson Institute for International Economics)

Abstract

China's efforts to transition from an economy driven by investment and exports to one based on private consumption and services are roiling global markets. Its problems are compounded by an economic slowdown, rising debt levels, languishing real estate market, and lagging productivity growth. In these essays, scholars from the Peterson Institute for International Economics (PIIE) recommend a number of reforms for Chinese leaders to consider, including steps to further open up its capital account and develop its financial markets. This collection of papers is part of a series of interactions and discussions between PIIE and the China Finance 40 (CF40) Forum, which began in 2012. The papers are intended to illuminate the challenges facing China as it engages increasingly with the global economy and builds on its phenomenal economic success of the past three decades.

Suggested Citation

  • Tomas Hellebrandt & Jacob Funk Kirkegaard & Robert Z. Lawrence & Paolo Mauro & Silvia Merler & Sean Miner & Jeffrey J. Schott & Nicolas Veron, . "China's Economic Transformation: Lessons, Impact, and the Path Forward," PIIE Briefings, Peterson Institute for International Economics, number PIIEB15-3, August.
    • Handle: RePEc:iie:piiebs:piieb15-3
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    References listed on IDEAS

    as
    1. International Monetary Fund, 2011. "People's Republic of China: Financial System Stability Assessment," IMF Staff Country Reports 2011/321, International Monetary Fund.
    2. Ma, Guonan & Xiandong, Yan & Xi, Liu, 2011. "China's evolving reserve requirements," BOFIT Discussion Papers 30/2011, Bank of Finland Institute for Emerging Economies (BOFIT).
    3. Wei, Shang-Jin & Wang, Tao, 1997. "The siamese twins: Do state-owned banks favor state-owned enterprises in China?," China Economic Review, Elsevier, vol. 8(1), pages 19-29.
    4. Guonan Ma & Yan Xiandong & Liu Xi, 2013. "China’s evolving reserve requirements," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 11(2), pages 117-137, May.
    5. Charles Goodhart & Xiaosong Zeng, 2006. "China's Banking Reform: Problems and Potential Solutions," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 4(3), pages 185-198.
    6. Nicholas R. Lardy, 2014. "Markets over Mao: The Rise of Private Business in China," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6932, January.
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