A Window on China’s New Normal
At this year’s China Development Forum, virtually every official in attendance accepted that GDP growth will continue to slow. They now seem to understand that this will not fuel unemployment, because the slowdown reflects China’s structural shift from heavy industry to more employment-intensive consumer services.
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CAMBRIDGE – Every year at this time, China’s government organizes a major conference – sponsored by the Development Research Center, the official think tank of the State Council – that brings together senior Chinese officials, CEOs from major Chinese and Western firms, and a small group of international officials and academics. The China Development Forum (CDF) occurs just after the annual National People’s Congress.