Barry Naughton comments on China's "big government" response to economic crisis
USA Today quotes IR/PS professor in article
07/14/2010
David J. Lynch,
USA Today
BEIJING — Ma Xiaojing and his girlfriend, Niu Shanni, weren't trying to shake up the global economy. They just wanted to go shopping.
But as they strolled through the Viva Beijing mall on a recent workday, the young couple seemed to embody a transformation that many economists say is essential to long-term global stability.
With American consumers tapped out in the wake of the financial crisis, China must rebalance its economy to rely more on its own domestic demand rather than exports to the United States. That will raise living standards here and eventually shrink the costly and controversial U.S. trade deficit with China, which hit $22.3 billion in May, up from $17.5 billion in the same month last year.
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Barry Naughton is an authority on the Chinese economy, with an emphasis on issues relating to industry, trade, finance, and China's transition to a market economy. Recent research focuses on regional economic growth in the People's Republic of China and the relationship between foreign trade and investment and regional growth. He is also completing a general textbook on the Chinese economy. Recently completed projects have focused on Chinese trade and technology, in particular, the relationship between the development of the electronics industry in China, Taiwan and Hong Kong, and the growth of trade and investment among those economies.
