*Research Center for International Finance, Policy Brief
The Transition of China’s Development Model
Zhang Ming
From 1978 to 2010, China had achieved a continuous high economic growth under controllable inflation pressure. During the 33 years, the average GDP growth is 10.0%, and the average CPI growth is 5.4%.1 The sustained economic growth enabled China to become the second largest economy throughout the world in 2010. However, the success in the past could not verify the success in the future naturally. The old development model of China is more and more unsustainable under current circumstances, especially after the burst of global financial crisis. If Chinese economy could not change its development model appropriately in time, the fast economic growth in China might come to a halt, and the process of reform and opening up might suffer a reverse.
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The Features of China’s Old Development Model
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The Consequences of China’s Old Development Model
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Why China Has to Change its Development Model?
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How Should China Change its Development Model?
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