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Understanding China’s Growth: Past, Present , and Future

Understanding China’s Growth: Past, Present , and Future. Author: Xiaodong Zhu Lecturer: Fan Bao. The Past: Pre-modern Era. China was once a world economic and technological leader. The peak of China’s premodern economic performance is in the Song Dynasty ( circa 1200)

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Understanding China’s Growth: Past, Present , and Future

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  1. Understanding China’s Growth: Past,Present, and Future Author: Xiaodong Zhu Lecturer: Fan Bao

  2. The Past: Pre-modern Era • China was once a world economic and technological leader. • The peak of China’s premodern economic performance is in the Song Dynasty ( circa 1200) • China lost its leadership position to Western Europe sometime between 1500 and 1800 • China actually fall behind during the Qing Dynasty ( 1644-1911)

  3. The Past: Pre-reform period • In 1978, China was one of the poorest countries in the world. • The real per capita GDP in China was only one-fortieth of the U.S. level and one-tenth the Brazilian level.

  4. The Present: The Economic Reform • Since the reform, China’s real per capita GDP has grown at an average rate exceeding 8 percent per year • China’s real per capita GDP is now almost one-fifth the U.S. level and at the same level as Brazil.

  5. Why so different

  6. The Future of China’s Economic Growth • Will China be able to continue its rapid growth? • When will China catch up the U.S.?

  7. Thank you! Questions?

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