Asia Program

China's Economy: Retrospect and Prospect

Franklin Allen, Loren Brandt, Lee Branstetteer, Donald Clarke, Chang-tai Hsieh, Jikun Huang, Yasheng Huang, Nicholas Lardy, Peter Murrell, Barry Naughton, Jun Qian, Meijun Qian, Thomas G. Rawski, Scott Rozelle, Susan Whiting, and Xiaodong Zhu

This Special Report highlights China’s remarkable economic achievements over the past quarter century, including its enormous expansion of output, employment, productivity, exports and incomes; unprecedented progress in poverty alleviation and material well-being; and the emergence of China as a major force in global markets. It also recognizes, however, China’s domestic problems in governance, banking, finance, law and the creation of institutions. Contributors to this volume do not predict a quick collapse of China’s economic prosperity. Nor do they anticipate that China’s long boom will extend forever, or that China is on a path to overtake the U.S. economy.

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