tailieunhanh - Chinese economic outlook after global crisis

This paper will demonstrate what china was doing, is doing and will do for its economic expansion during and after global crisis. Many thoughts and theories about Chinese economic reforms are analyzed. The road map and goal of Chinese economic growth are examined and outlined in this paper. How to keep Chinese economy fast growth is this paper’s key issue which is thoroughly discussed. | Journal of Applied Finance Banking 2011 73-81 ISSN 1792-6580 print version 1792-6599 online International Scientific Press 2011 Chinese Economic Outlook after Global Crisis Liang-Xin Li1 Abstract This paper will demonstrate what china was doing is doing and will do for its economic expansion during and after global crisis. Many thoughts and theories about Chinese economic reforms are analyzed. The road map and goal of Chinese economic growth are examined and outlined in this paper. How to keep Chinese economy fast growth is this paper s key issue which is thoroughly discussed. JEL classification numbers E6 Keywords Chinese economy high growth economic reform competitive global crisis 1 Introduction Since 2008 the global economy has been experiencing the deepest downturn in the post-World War II period as the financial crisis rapidly spreads around the world. A large number of advanced economies have fallen into recession and 1 Business school Hunan International Economics University Changsha 410205 Hunan China e-mail apolo1@ Article Info Revised October 16 2011. Published online November 30 2011 74 Chinese Economic Outlook after Global Crisis economies in the rest of the world have slowed abruptly. Global trade and financial flows are shrinking while output and employment losses mount. Credit markets remain frozen as borrowers are engaged in a drawn-out deleveraging process and banks struggle to improve their financial health. The recovery is expected to be slow as financial systems remain impaired support from public policies will gradually have to be withdrawn and households in economies that suffered asset price busts will continue to rebuild savings while struggling with high unemployment the report said. Table 1 The growth rate for each year of 1978 - 2008 Year Growth rate Year Growth rate 1978 1995 1979 1996 1980 1997 1981 1998 1982 1999 1983 2000 1984 2001 1985 2002 1986