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Outline the main features of the ‘new normal’ phase of China’s economic growth
· Discuss the last three decades (1978- present) of China rapid economic expansion cycle (socialism market economy)
· Outline the period after 2013, the change of new leadership (handover of president XU to XI)
· Describe the main features of new normal in China and the opportunities and challenges with leadership under Xi.
· Consider challenges such as the steep decline in GDP growth rate to one digit growth, potentially destabilise the country, risk for financial health, debt repudiation, over- capacity in SOE’s production, misuse of resources, environmental pollution, middle income trap etc.
· Explain the efforts of the government to reform the system. These include consumerism (demand pull), innovation, urbanization, accelerate to service industries, environment protection, diffuse bubble… slow but steadier growth strategies and change of engine not nearly change of gear
· Elaborate the action plans: increase individualized and diversified consumer demand, increase investment in new and innovative technologies, import of high -tech products, promote services, green technologies de-leverage and burst bubbles and control over capacity…