China: Restructuring and Reform: Have the Twin Processes Begun?
Abstract:
The economic transition to a “new normal” of slower growth involves both restructuring and reform. Restructuring involves a shift in demand (toward domestic and consumption) and in supply (toward services and away from heavy industry). Reform involves creating new institutions that facilitate restructuring and improving productivity. Through 2015, there is little evidence of successful restructuring. Professor Naughton will argue this is plausibly related to slow progress in state enterprise and fiscal reform. This explains the new “Supply Side Structural Reforms” initiative, and suggests 2016 will have additional surprises in store.
About the speaker:
Barry Naughton
Professor Barry Naughton is one of the most well-known and respected Western scholars on China’s economy and China’s transition to a market economy. Barry Naughton is an economist and Professor at the School of Global Policy and Strategy, at the University of California, San Diego. Professor Naughton has published extensively on the Chinese economy, with a focus on four interrelated areas: market transition; industry and technology; foreign trade; and Chinese political economy. His pioneering study of Chinese economic reform, Growing Out of the Plan: Chinese Economic Reform, 1978-1993 (Cambridge University Press, 1995) won the Masayoshi Ohira Memorial Prize. Dr. Naughton’s comprehensive survey, The Chinese Economy: Transitions and Growth, was published by MIT Press in 2007. Dr. Naughton’s most recent book (co-edited with Kellee Tsai), State Capitalism, Institutional Adaptation and the Chinese Miracle, has just appeared from Cambridge University Press (2015). Professor Naughton also publishes regular quarterly analyses of China’s economic policy-making online at China Leadership Monitor. Dr. Naughton received his Ph.D. in Economics from Yale University in 1986.
This lecture is free of charge. Please sign up using the link below. Last day for registration is May 3rd 2016.