Reform and China's Long-Term Growth and Development

Abstract

Reforms to build China�s new model of economic growth have gained momentum since our mid 2013 book, China: A New Model for Growth and Development. This year�s China Update book explores more deeply the new model of growth, through which China seeks to achieve the transition from a middleincome to an advanced economy. This book defines and discusses the reforms that are necessary to bring the new model into reality and to make it work. It describes many barriers that stand in the path to success, and the damaging consequences of failing to cross the barriers smoothly. It identifies opportunities for China to reconcile structural change with maintenance of strong growth in living standards.