Macroeconomic implications for the sustainable development—a case study for China Qijia Wei State Information Center of NDRC
Contents • Introduction for this presentation • Critical thinking about recent development of the economy • Challenges China’s economy are facing • Policy advice and suggestions
Introduction • We aims to explain the reasons that recent downturn of the economy and give a critical thinking about the economic growth rate and sustainable development. • Some policy advice and suggestions are given. Different with academic research, policy advice and suggestions should consider not only economic theory but also the situations of the country.
Critical thinking about recent development of the economy • Not Good (disadvantages) (1) double-digital growth rate is disappeared (2) Employment • Good (advantages) (1) Industrial structure adjustment and economy upgrade (2) Consider (rethink) the economic development way(make the economy more sustainable and more “Green”)
Challenges China’s economy is facing � Excess capacity � Climate change and environmental protection � Urban and rural income gap � Expand the domestic consumption � Housing market � Financial risks
Policies response to challenges � Some policies are carried out in order to make the economy development more sustainable. *rational range and bottom line *urbanization * Financial regulation…. � “reform and innovation” the key words of “18.3”
Policies response to challenges (1) Driving forces: consumption, investment and export. (2) Urbanizations : New (3) Financial regulations for “shadow banking”, local government debt, and push the financial reform. (such as private banks) (4) Innovations of the economy.
� Addressing excess capacity problems in industry. *transfer *close *consume Last but not the least, environmental protection maybe the core issue for China’s sustainable development.
Summary � Challenges � Responses (1) Economic structure (2) New driving force (3) More sustainable
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