Barry Naughton Referenced on China's Path to Economic Prosperity
China Economy: China's Long March to Prosperity
02/26/2012
chinastockdigest.com
About: (Vice-Premier Li Keqiang, Deng Xiaoping, International Monetary Fund, McKinsey Consulting, China economy, China Stock Digest, Chinese economy, China stock market)
Touring China’s mega cities can be terribly misleading, so says China’s up-and-coming leader, Vice-Premier Li Keqiang. Li is correct of course. The bright lights of Shanghai, Beijing and Shenzhen tend to conceal the poverty of the nation’s many rural districts. China is huge and only a few hundred million of its 1.3 billion people have successfully risen to prosperity.
That’s the crucial point in understanding China’s economic and political future. Westerners who have seen the evidence of China’s new wealth don’t understand Beijing’s obsession with aggressive economic expansion, with increasing exports and raising internal consumption. Hundreds of millions of Chinese have yet to experience the glory of getting rich (to paraphrase Deng Xiaoping’s famous call to arms).
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Barry Naughton is Sokwanlok Chair of Chinese International Affairs. He is the professor of Chinese Economy at the School of International Relations and Pacific Studies. His work focuses on issues relating to industry, trade, finance, and China's transition to a market economy. Recent research emphasizes on regional economic growth in the People's Republic of China and the relationship between foreign trade, investment and regional growth.
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