Why China Still Has Room to Grow

By Fabien Pacory

The world economy is experiencing what the World Bank calls “the slowest half-decade of GDP growth in 30 years.” As some of China’s key growth catalysts weaken against this backdrop, a few stakeholders in the Western economy have become defeatist and pessimistic. Some believe that China will soon get caught in the “middle-income trap” or even experience the “Japanization” of its economy, characterized by low growth and deflation. Yet, a more subtle and nuanced look at China’s economic aggregates and indicators will lead us to a different conclusion. Taking a step back for a new vista is crucial to gain greater clarity of the whole landscape. When we do this, it becomes clear to us that China’s development is just entering a more mature phase. The pessimism about the Chinese market and…

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Beijing Review (Digital) - 1 Issue, Vol.67/No.18

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