Introduction to China’s new normal economy

Zhang, Jing; Chen, Jian

Abstract

China’s economic reform has been successful, making it become a major economic power. Largely relied on low-cost investment, cheap and abundant labour and use of natural resources to support growth, China has faced a number of challenges including high debt to GDP, demographic changes and environmental degradation, along with income inequality, corruption and rent-seeking activities. In recent years, China’s economic growth rate has fallen from the historic double-digit rate to 6–7%. Chinese Government has attempted to rebalance its economy to achieve a “new normal” of slower but more sustainable economic development. This special issue aims to raise discussions concerning the ways in which further reform of the Chinese economy can be conducted in the context of challenges and opportunities of the new normal. The issue comprises five papers that exhibit special insights of interest, including the discussions on drivers of economic growth, the role of government policy played in economic growth in the coming decades, the importance of innovation and government institutions in firm performance, the impact of capital structural on firm competitiveness, as well as the relationship between the use of social networks and wages of rural–urban migrant workers.

Citation

Zhang, J., & Chen, J. (in press). Introduction to China’s new normal economy. Journal of Chinese Economic and Business Studies, 15(1), https://doi.org/10.1080/14765284.2017.1289454

• Journal Article Type: Article
• Acceptance Date: Jan 29, 2017
• Online Publication Date: Mar 16, 2017
• Deposit Date: May 18, 2017
• Publicly Available Date: Sep 17, 2018
• Journal: Journal of Chinese Economic and Business Studies
• Print ISSN: 1476-5284
• Electronic ISSN: 1476-5292
• Publisher: Routledge
• Peer Reviewed: Peer Reviewed
• Volume: 15
• Issue: 1
• DOI: https://doi.org/10.1080/14765284.2017.1289454
• Keywords: China, new normal, economic growth
• Public URL: https://nottingham-repository.worktribe.com/output/851272
• Publisher URL: http://www.tandfonline.com/doi/full/10.1080/14765284.2017.1289454
• Additional Information: This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Chinese Economic and Business Studies on 16 March 2017, available online: http://www.tandfonline.com/10.1080/14765284.2017.1289454.