Global Economics Monthly: China's Economic Navigators Enter Choppy Waters

After 30 years of spectacular growth, has China hit a wall? Certainly the country’s old growth model seems to be running out of steam: labor is no longer cheap, debt is rising at an alarming pace, and exports can no longer be the leading driver of growth. Even as the Communist Party leadership in Beijing has strongly signaled its commitment to rebalancing the economy toward more sustainable, consumption-led growth, policymakers face a staggering array of challenges. They must not only grapple with an economy orders of magnitude more complex than in the past but also respond to demands from an increasingly pluralized society. Do China’s economic policymakers have the skill to
navigate the more turbulent waters ahead?