Chinese Economy Needs to Seek a New Balance While Slowing its Speed
Zhao Xiao Li Huizhong
As the three driving forces of economic growth have all fallen, the Chinese economy comes to the crossroad once again. The current predicament is, to a large extent, an end to the old model of equilibrium, namely, a growth pattern dependent on external demand and investment. A shift from the model of "globalization-growth driven by foreign demand" toward that of "urbanization-growth driven by domestic demand" has become an irreversible trend. The transition from the past "fast growth" to the current "steady growth" is actu-ally a change of equilibrium. How to seek a balance between "fast growth with low quality" and "slow growth with high quality" is a serious challenge for the Party's governance capability.
【CateGory Index】： F124