World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
A crisis of faith
Keywords:
This briefing in the Economist says China now faces a difficult transition to its next phase of development, in which the government is trying to change the model used by Deng Xiaoping of export led development to a consumption based economy. That model produced spectacular results between 2000 and 2015 when the middle class went up from 5% of the population to 25% of the population, as measured by people living on more than $20 a day in 2011 $ purchasing parity, as reported by IMF, EIU. The problem China faces is can this development stall if it fails to tackle problems in the next phase, with an aspiring group behind the new middle class left behind. Recent jump in the stock markets volatility, devaluing of the currency, and confusing signals sent by the government have hurt its credibility. Demographic issues with an aging population, the destruction of the environment with rampant development, and how to manage this next phase of development with respect for the constitution and the rule of law replacing the high corruption levels, are serious challenges. Experts say it will be difficult to manage a transition to the next phase of development without some degree of democratization. The rise of the internet and the social media have created more avenues for expression, which gives the government some guage of public opinion, especially in tackling pollution, mismanagement, and other problems. The government sees the need to manage things carefully, with rising unemployment posing a problem as growth slows and the government closes down inefficient manufacturing facilities.
China's stalling economy and productivity growth- the need for new direction in 2013-2015
03/06/2012
Bloomberg estimates show every one dollar of new credit created now yields about 17 cents in GDP growth as old polices of state led growth are no longer working. This compares to over 83 cents in 2007. Financial repression by reducing interest rates for savers is further depressing consumer spending when it is most needed to rebalance the economy towards domestic consumption.
Grouped Articles
Wall Street Journal 07/01/2013
Wall Street Journal 07/15/2013
China Think Tank Offers Reform Wish List
Wall Street Journal 10/30/2013
China Forecasts 7.6% Economic Growth in 2013
Wall Street Journal 12/27/2013
Xi Faces Test Over China's Local Debt
Wall Street Journal 12/31/2013
Beijing Should Scrap the GDP Target
Wall Street Journal 01/08/2014
China- Communist Party leadership 2014-2016
09/23/2015
Grouped Articles
What China’s Xi Jinping thinks about freedom - The Washington Post
Washington Post 09/23/2015
China Unveils Economic Blueprint for 2016
Wall Street Journal 12/22/2015
Economist 01/23/2016
Confucius, Mencius, and China's own path of development and foreign policy in 2014-2016
09/23/2015
Grouped Articles
What China’s Xi Jinping thinks about freedom - The Washington Post
Washington Post 09/23/2015
China Unveils Economic Blueprint for 2016
Wall Street Journal 12/22/2015
Economist 01/23/2016
The future of the Communist Party in China and the views of Xi Jinping
02/14/2013
Grouped Articles
Vowing Change, Chinaâs Leader Airs Other Message in Private
New York Times 02/14/2013
The Deeply Odd Lives of Chinese Bureaucrats
Wall Street Journal 03/14/2013
As China’s Leader Fights Graft, His Relatives Shed Assets
New York Times 06/17/2014
A Response to President Xi Jinping
New York Times 11/12/2014
Move Over Mao: Beloved ‘Papa Xi’ Awes China
New York Times 03/07/2015
What China’s Xi Jinping thinks about freedom - The Washington Post
Washington Post 09/23/2015
Xi Jinping's and Liu He's role in economic policy for China
12/21/2013
The key role in developing economic policy for top down changes in China of Xi Jinping and advisor Liu He.
Grouped Articles
Xi Weakens Role of Beijing's No. 2
Wall Street Journal 12/21/2013
China Unveils Economic Blueprint for 2016
Wall Street Journal 12/22/2015
Economist 01/23/2016
Xi Jinping signals China will champion free trade if Trump builds barriers
The Guardian 01/17/2017
Opinion | Xi Jinping’s Dilemma
International New York Times 04/27/2017
China’s leader elevated to the level of Mao in Communist pantheon
Washington Post 10/24/2017
China and the threat of deflation in 2016
11/20/2015
Grouped Articles
Japanese Deflation Threat Hangs Over China
Wall Street Journal 11/20/2015
Economist 01/23/2016
China's economy in 2014-2016
09/16/2014
Grouped Articles
China's Moment of Truth: Financial Reform or Growth?
Wall Street Journal 09/16/2014
China's Economy Stumbles Into Stimulus
Wall Street Journal 09/16/2014
China's Central Bank Injects $81 Billion Into Top Banks to Counter Slowdown
Wall Street Journal 09/18/2014
Reform in China: The quiet revolution
Economist 04/18/2015
China’s True Growth Is a Mystery; Economists Weigh the Clues
Wall Street Journal 04/27/2015
Devaluation Hints at China’s Rising Distress Over Economy
New York Times 08/12/2015
The Central Economic Work Conference in Dec. 2015 and China's economic plan for 2016
12/22/2015
China's top leaders meet in Beijing to chart the future course of the economy. Growth rate is expected to be more L shaped than V shaped as the target for growth is lowered to 6.5%. Large stimulus is ruled out. And efforts will be made to reduce industrial overcapacity, better allocation of resources away from housing to increase domestic consumption, improving access to medical care, education and other quality of life improvements.
Grouped Articles
China Unveils Economic Blueprint for 2016
Wall Street Journal 12/22/2015
Economist 01/23/2016
China’s Leaders Put the Economy on Bubble Watch
Wall Street Journal 03/07/2016
The Problem With China’s Economic Growth
WSJ 07/17/2017
The WSJ's written interview with China's president Xi Jinping in September 2015
09/22/2015
Grouped Articles
Full Transcript: Interview With Chinese President Xi Jinping
Wall Street Journal 09/22/2015
Xi Gives America Inc. a Reality Check
Wall Street Journal 09/22/2015
What China’s Xi Jinping thinks about freedom - The Washington Post
Washington Post 09/23/2015
China Unveils Economic Blueprint for 2016
Wall Street Journal 12/22/2015
Economist 01/23/2016
Trump and Xi’s First Meeting: How Long Will the Cordiality Last?
The New York Times 04/06/2017
China's efforts to transition to a new model for development in 2016-2017, based on consumers and not on heavy state spending
08/25/2015
Xi-Jinping and Li Keqiang face a challenge and choices not unlike the one facing Deng Xiaoping in the 1980's- now the challenge is how to move China beyond the middle income status it has achieved with all its accompanying problems of environmental destruction, corruption and aging population.
Linked Articles
Economist 01/23/2016
Political Risks May Foil Economic Reform in China
New York Times 08/25/2015
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us
