Research of the Risk Factors of China’s Unsustainable Socioeconomic Development: Lessons for Other Nations

Abstract

An intriguing feature of China’s rapid socioeconomic development during the past 30 years is the new path it appears to represent for other developing countries. Unfortunately, the risks associated with China’s model are severe; they include a growing gap between the rich and poor caused by an unbalanced supply of social welfare, environmental degradation caused by unsustainable development, growing risks to food security caused by farmland degradation, damage to China’s international reputation, and growing social turbulence as a result of runaway corruption. These problems will jeopardize China’s achievements if the current path continues to be pursued without intervention by the central government to solve these problems. To provide insights into the damage being caused by China’s socioeconomic development model, we provide examples of problems that have arisen during the current period of reform and that must be avoided by other developing countries that hope to emulate China’s rapid development without incurring the same costs.