Critical Issues
Background:
China's economy was rocked by the global financial crisis in late-2008, but a massive fiscal and monetary stimulus helped to pull the economy back to 8.7% growth in 2009. China remains highly dependent on exports and investment for growth, though policy makers have been trying to steer the economy toward domestic demand since at least 2005 when President Hu Jintao’s vision of a “harmonious society” was embraced by the government’s planners to reduce China's reliance on the rest of the world for growth. Although China has embraced capitalism since reforms started in 1978, the Chinese Communist Party still holds onto some of the vestiges of a planned economy with its five-year plans and control of the commanding heights of the economy through state-owned enterprises.
Access to this content is restricted to RGE clients.
If you have a client code, please enter it here to activate your client account.
Click here for a free trial.
Learn About Our Services:
Our dynamic and intuitive macroeconomic research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.
Our market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:
• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio
Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.
Learn More »
Associated Readings
Analysis
World Economic Forum (WEF)
Video Presentation by Wen Jiabao
Sep 10, 2009
Wen Jiabao, Premier of the People’s Republic of China on an ambitious agenda to reinvigorate China’s economy while meeting social goals
Analysis
McKinsey
David Li, Xiao Geng, Tang Min and Chi Wei
May 2009
Is China recession proof?