Friday, April 21, 2023

China’s Economic Outlook: Short-term Fluctuation and Long-term Growth

“Can China continue to grow faster than most other countries, say, at 5% a year over the next 10-20 years? If that is the case, it is going to have a huge impact on all of us.”

CEIBS Professor of Economics and author of Catching up to America: Culture, Institutions and the Rise of China Zhu Tian debunks some common myths behind China’s economic growth. 

He also argues that, when considering China's post-pandemic economic trajectory, what matters most is the long term, not the short term.

Furthermore, Prof. Zhu points out that although consumption, investment and exports often grab the headlines, the strength of China’s long-term growth instead stems from its rapid accumulation of physical and human capital and new technologies.

Ultimately, he says, China's comparative strength in economic development has been – and likely will continue to be – more cultural than political or tactical.

Recorded at the Innovation Forum Beijing in March 2023.
More highlights from the Innovation Forum Beijing 2023 here.
More about Catching up to America here.
More about Prof. Zhu Tian's teaching and research interests here.