New TMCD Working Paper on China's Long-Term Development

The TMCD has published a working paper by ODID's Professor Emeritus of International Development, Adrian Wood. Entitled "China: Long-Term Development Issues and Options, Past and Present", the paper begins by retrospectively analysing the background behind and conclusions in a 1985 World Bank report on China.

The second and main part of the paper moves forward to consider at China's long-term development issues, but starting from where China is at present. It begins by considering the pattern of growth that would be needed for China to catch up with the developed countries, with higher total factor productivity (TFP), a different sectoral structure and a new relationship with the world economy. It then considers the economic system reforms required to achieve that pattern of growth and the social policies required to ensure that the benefits of growth are broadly shared.

The working paper can be downloaded here