China Economic Rebalancing

How China is trying to rebalance its economy toward consumption

The Challenge

The Chinese economic rebalancing challenge -- the specific difficulty of shifting the Chinese economy from the investment and export-led growth model that produced three decades of rapid development to the consumption-led growth model that the next phase of development requires -- is the specific economic policy challenge that the Chinese government has been addressing with limited success.

The Obstacles

The specific obstacles: the Chinese household savings rate of approximately 35 percent, which is among the highest in the world and which reflects the specific precautionary savings that the limited social safety net and the specific housing cost produce; and the specific income distribution that concentrates the income gains of the growth period in the sectors whose propensity to consume is lower than the broader population.

Daily Asian News Coverage

Daily Asian News covers the economic rebalancing because the accountability journalism of the Chinese economic policy requires examining the specific challenge that determines whether Chinese growth can continue at the pace that the global economy has come to depend on.

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