China Going Forward
Even as economists and strategists busily extrapolate China’s future growth path to predict when it will catch up to the US, the mood inside China became somber and subdued in 2010. Social divisions have deepened, painful structural economic reforms are needed, and powerful vested interests are jeopardizing continued growh.
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BEIJING – China’s per capita income, at $3,800, has now surpassed the threshold for a middle-income country. But, even as economists and strategists busily extrapolate China’s future growth path to predict when it will catch up to the United States, the mood inside China became somber and subdued in 2010. Indeed, Premier Wen Jiabao sees China’s growth as “unstable, unbalanced, uncoordinated, and ultimately unsustainable.”