China's change to a new model of growth, now called the 'new normal', was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the...

Preliminary -- Acknowledgments -- Contributors -- Abbreviations -- Part I: New Model for Economic Growth -- 1. Reform and China's Long-Term Growth and Development -- 2. China's Shift from the Demographic Dividend to the Reform Dividend -- 3. Structural Imbalance, Inequality and Economic Growth...

Preliminary -- Contents -- Tables -- Figures -- Contributors -- Acknowledgments -- 1 China's New Strategy for Long-term Growth and Development: Imperatives and Implications- Ross Garnaut, Cai Fang and Ligang Song -- 2 New Institutions for a New Development Model - Dwight H. Perkins -- 3 The New...

With its per capita income surpassing US10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential.