China's Bubble Cambridge Lecture MT

1) China has experienced remarkable economic growth since the 1970s, averaging 9.5% GDP growth annually, but this growth model faces sustainability challenges from overreliance on investment and exports, and environmental degradation. 2) The government is seeking to rebalance the economy toward greater domestic consumption, and tackle issues such as inequality, environmental pollution, energy security, and urban-rural income gaps to promote higher-quality growth. 3) Upgrading industries, boosting productivity, increasing wages, and developing western regions will be key to restructuring the economy and maintaining growth rates in the face of demographic and economic changes.