Abstract
China has realised excellent rapid economic growth for the last 27 years following Taiwan and Korea, which maintained rapid growth for nearly 40 years. This has mainly been achieved by extraordinary high fixed assets investment, especially investment in real assets, as well as export expansion. However, new structural contradictions have emerged. They include workers laid off through downsizing of state-owned corporations, non-privileged farmers who have migrated into cities, and landless peasants. China is now at a turning point for the central government to drastically transform existing fiscal institutions in order to redistribute the dividends of high economic growth to the poor and poor areas, against the trinity of local bureaucracy, real estate developers, and state-owned banks.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
