Brookings on China’s Development and the 12th FYP

China’s Approach to Economic Development and Industrial Policy – Brookings Institution.

In testimony to the U.S.-China Economic and Security Review Commission on June 15th, Brookings Institution Senior Fellow Eswar Prasad discusses China’s 12th Five Year plan and the challenges China will face in restructuring its economy.

Where he and I differ somewhat is in his belief that the transition will slow China’s “rebalancing” program. As I’ve argued in Silicon Hutong, the policy dislocations in China’s modern leadership transitions are actually less extreme than those in the past or elsewhere. I suspect movement will proceed in most of the directions Prasad discusses, and several he skips in the interest of brevity.

A superb summary, though, and highly readable at that.

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