China’s economy has defied many predictions of doom before, but great new challenges are now piling up.
Old issues including falling productivity growth, high debt, property sector imbalaces and high inequality remain. In addition, China’s population has started to decline, and the country is facing increasing technology restrictions and decoupling pressures from the US. How might China navigate these challenges ahead? Can the government remain pragmatic as in the past, and adopt policies and reforms to help sustain growth?
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Tao Wang is the author of Making Sense of China’s Economy, a book that untangles China’s complex economic structure, evolving challenges and curious contradictions. Dr Wang is currently a managing director and head of Asia Economic Research at UBS investment bank. She is an invited fellow of the China Finance (CF) 40 Forum and a member of the China Global Economic Governance 50 Forum. She served as a member of the Mainland Opportunities Committee of the Hong Kong Financial Services Development Council between 2015 and 2021.
Ricardo Reis is the Arthur Williams Phillips Professor of Economics at the Department of Economics, LSE. Recent honors include the 2002 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election fo the Econometric Society in 2019. He is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, and he directs the Centre for Macroeconomics in the UK.
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