This book brings together fresh economic thinking for China at a turning point for the country. Decades of growth have brought new prosperity to China; economic turbulence in 2022 has led to calls for new thinking. 20 of China's top economists came together at 2022's Wudaokou Forum with innovative ideas and radical new perspectives; this book collects the best of the forum, in a volume that will be of interest to economists, China scholars and journalists.
Author(s): Jiandong Ju
Publisher: Palgrave Macmillan
Year: 2023
Language: English
Pages: 141
City: Singapore
Contents
List of Contributors
1 Introduction
2 Dialogue with Ray DALIO—Development and Cooperation in the New World Order
3 Outlook on the World Economy, Finance, and Global Order
3.1 China Needs to Maintain a Dynamic Economic Growth Rate and Speed up the Process of Opening Up
3.2 Accelerate the Promotion of Green Technology Innovation in China and Turn Climate Change Pressure into a Driving Force for Innovation Growth
3.3 Adjusting the Structure of China’s Overseas Assets to Cope with New Changes in the International Monetary System
3.4 Coordinate Epidemic Prevention and Control and Economic Development Goals, Improve Life Expectancy and People’s Welfare and Maintain Strategic Focus and Patience
3.5 Discussion: The Enlightenment of the Japanese Experiences and Lessons on China’s Economic Growth
4 China Economy and Policy Outlook
4.1 Facing the External Risks of Stagflation in the United States, China Should Boost Domestic Demand and Promote Consumption
4.2 Facing Four Major Internal Risks, Make a Good Policy Combination
4.2.1 Macroeconomic Situation
4.2.2 The Effectiveness of Expansionary Policies
4.2.3 On Policy Suggestions
4.3 Stabilizing the Macro Economy and Maintaining Epidemic Prevention and Control, China’s Two Major Measures to Address the Three Major Global Challenges
4.4 Tax Reform Narrows Income Gap, the Third Distribution Achieves Common Prosperity
4.5 Asset Prices Reflect the Economic Situation in a Timely Manner, and Further Attention Should Be Paid to the Impact of the Epidemic and Real Estate Issues in the Future
4.6 Discussion: Boost the Current Chinese Economy and Play a Good Fiscal Policy Combination
5 Innovation, Finance, and Tech Competition
5.1 “Make Great Efforts to Improve Finance” is the Key to Deepening Reform, Activating Innovation and Expanding Opening Up
5.2 Scientific and Technological Innovation is the Core of Great Power Competition and the Starting Point of Financial Services for the Real Economy
5.3 Clarify Sino-U.S. Technology Competition and Strengthen Cooperation in Innovation
5.4 Promoting its Own Technological Innovation and Coping with the Decoupling of Sino-US Technology
5.5 The Upgrading of Industrial Structure Requires the Formation of a Virtuous Circle of “Innovation-Scale”
5.6 Discussion: Develop Scientific and Technological Innovation to Cope with the Competition of Major Countries
6 Monetary Policy and Economic Growth
6.1 Adhere to a Monetary Policy Based on Aggregates and Be Cautious About Structural Monetary Policy
6.2 Getting the Economy up by Intensifying Investment and Counter Cyclical Measures
6.3 The Sino-US Interest Rate Gap is Inverted, and It is Sooner Rather Than Later for China to Stabilize Growth
6.4 Combining Fiscal and Monetary Policies to Improve the Efficiency of Macro Policies
6.5 Responding to the Epidemic Requires Monetary Policy “Fire Prevention, Fire Fighting, Disaster Relief”
6.6 Discussion: Monetary Policy to Stabilize Exchange Rate, Credit and Residents’ Consumption
References
Index
