Structural Imbalance, Inequality and Economic Growth
Date
2014
Authors
Wang, Xiaolu
Zhou, Yixiao
Journal Title
Journal ISSN
Volume Title
Publisher
ANU Press
Abstract
A series of structural imbalances has persisted in the Chinese economy. The consumption rate has been declining for years and has been significantly lower than the international average, while the savings rate and the capital formation rate have been too high and continue to rise. Massive investment has caused the rapid expansion of production capacity, while consumption growth cannot keep up with the expansion of capital investment and production capacity, resulting in a sustained excess capacity. Without structural change, the Chinese economy will gradually lose momentum due to the deficiency of domestic demand.
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Source
Deepening Reform for China's Long-term Growth and Development
Type
Book chapter
Book Title
Deepening Reform for China's Long-term Growth and Development
Entity type
Access Statement
Open Access via publisher website