Dr John Lee: China's Dangerous One-Speed Economy
From: Wednesday May 4, 2011, 12:00 pm
To: Wednesday May 4, 2011, 2:00 pm
On 4th May 2011, Dr John Lee presented his work on 'China's Dangerous One-Speed Economy'. Chinese Premier Wen Jiabao has pledged to sacrifice overall growth in order to rebalance and restructure the Chinese economy. The Premier has delivered similar messages since 2005 while Chinese economists have been warning of serious imbalances in the model for over a decade. Although a boon for commodity exporters such as Australia, the Chinese economy has become dangerously reliant on unsustainable increases in fixed-investment to drive growth – resulting in serious risks such as the rise of a property bubble. In the words of Premier Wen, the Chinese economy is “unstable, unsustainable and uncoordinated.” Dr. John Lee looks at whether this is correct, and why slowing growth and restructuring the Chinese model is so difficult. Dr. John Lee is a research fellow at the Centre for Independent Studies in Sydney and the Hudson Institute in Washington DC. The author of Will China Fail?, he has published in over fifty major newspapers and journals in the world, been invited to testify and share his research with US Congressional Senate and House Committees, and briefed officials and elected leaders at the Ministerial and Secretarial levels in the US, Australia, Singapore, Indonesia and Malaysia. He received his doctorate from Oxford University.
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