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Trap or Wall? Real Challenges and Strategic Choice in China's Economy
2014-06-26
ISBN: 9787508630625
Publisher：CITIC Press Group
Issued: November, 2011
China's GDP has exceeded that of Japan and it has become the second largest economy in the world, since 2010, with its per capita income going from low or medium to medium or high.
In looking back, we can see that some of the countries that began industrializing and brought their per capita income to mid-level, fell in the "medium-income trap" and could hardly reach any higher, while others managed to rank among high- income countries.
So, what will the case be in China? Will it fall into the "medium-income trap" as did Latin American countries, or will it become a high-income country in the future? This matter has attracted a lot of attention both in China and abroad.
Based on theory and analysis, and by comparing global experiences with China's situation, the book Trap or Wall? Real Challenges and Strategic Choices in China's Economy comes to the conclusion that it is less likely for China to fall into the medium-income trap before its rapid industrialization ends, regardless of the fact that China also faces real and serious challenges, such as how to remove structural contradictions and fiscal and financial risks in an effective way and how to transform its growth pattern to cross the wall and have high incomes after the industrialization period.
