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One of the messages coming out of the new Chinese leadership is an emphasis on higher quality economic growth. This means moving past a simple emphasis on the headline GDP growth number and instead focusing on boosting living standards. This is embodied in the renewed emphasis on building a moderately well-off (小康) society and the [...]
China’s once-in-a-decade leadership transition has now occurred with the conclusion of the 18th Party Congress and speculation is running high as to what the future direction of economic reform will be. The new lineup of the Politburo Standing Committee is a mixed bag in terms of reform. Key reformers like Li Yuanchao and Wang Yang were left off, but protégés of [...]
Private investors continue to lead the state despite slower growth In the midst of the noise surrounding financing for private companies and state-led stimulus to combat weaker growth this year, it may come as somewhat of a shock that investment by private companies is a major driver of the current recovery in fixed investment growth [...]
President Obama’s announcement of progress and support for the Trans-Pacific Partnership (TPP) during the recent Asia-Pacific Economic Cooperation (APEC) summit has led to new scrutiny of the role of SOEs in Asia. Many business groups, including the Chamber of Commerce and the Coalition of Service Industries, have argued that any agreement must include provisions that [...]
One of the most prevalent claims bandied about is that China’s stimulus went overwhelmingly to state-owned enterprises and set back the development of the private sector. The data on the actual implementation of the stimulus package is spotty, but an analysis of loan trends in China during the past two years (for which the data is more complete) shows [...]