RISK OF PLAN MANAGEMENT OF THE CHINESE ECONOMY
DOI:
https://doi.org/10.5937/ekonsig2302115SKeywords:
Chinese economic miracle, cheap labor, communist planned economy, Chinese economic slowdown, trade war, repression of the entrepreneurs, media control in China, Chinese debt crisis, real estate bubbles, declining Chinese birth rate, Asian tigers, capital outflow from China, militarization of ChinaAbstract
Based on official PRC statistics and analytical data obtained from modern scientific and public research, it follows that the so-called Chinese economic miracle has ended. The rapid development of China was driven using cheap labor and the open-door policy for Western investment under the rules of basic market laws after Deng Xiaoping's 1977 reforms. All three factors have exhausted their resources. Further growth in living standards and education began to pose a danger to the communist regime. Ignoring the laws of the free market economy, creating artificial plans for stimulating growth, repressing the entrepreneurs, sanctions pressure, an arms race, aggressive plans in the region and demographic changes inevitably lead to dangerous consequences - a slowdown in economic growth, debt load and capital outflow.
Downloads
References
Proverbs of Solomon, 16:12. Wicked behavior is detestable to kings, for a throne is established through righteousness. (biblehub.com)
Book “Why nations fail: The origins of power, prosperity, and poverty” 2012 / Daron Acemoglu (The Elizabeth and James Killian Professor of Economics at MIT.), James A. Robinson (The Reverend Dr. Richard L. Pearson Professor of Global Conflict Studies and University Professor at the Harris School of Public Policy, University of Chicago);
Michael Schuman, senior fellow at the Atlantic Council's Global China Hub The Atlantic, https:// www.theatlantic.com January 11, 2021 The Undoing of China’s Economic Miracle
Алексей Михайлов (Михайлов, Алексей Юрьевич - Википедия (wikipedia.org)) Газета.Ru, 12 ноября 2012 (gazeta.ru) статья “Китайское экономическое чудо продолжат другие/”
Alexey Maslov, Ph.D., Professor of the Institute of Asian and African Studies, Moscow State University with the focus on Chinese culture and modern sociopolitical development. https:// amaslov.me/
Alex Wu “Epoch Times” November 25, 2021 Chinese Regime’s Local Debts Reach Record High, Equivalent to 52 percent of GDP (theepochtimes.com)
New York Times | Li Yuan March 28, 2023 China’s Cities Are Buried in Debt, but They Keep Shoveling It On - The New York Times (nytimes.com)
Notice of Henan Province on Raising the Minimum Standard of Basic Pension for Basic Endowment Insurance for Urban and Rural Residents in the Province (2023) https://m12333.cn/policy/ emes.html
Official data of Government of China 2021年人社统计公报发布全国就业人员7.465亿人_滚动新闻_中国政府网 (www.gov.cn)
Author: Director of China Urbanization Jian Zhao, Professor and PhD supervisor, School of Economics and Management, Beijing Jiaotong University, Research Center, article Beware of high-speed rail gray rhinos | Interface News https://m.jiemi an.com/article/2844468.html
Milton Ezrati, on Forbes, Jan 16, 2023 China’s Overwhelming Debt Burden Points To Still Deeper Problems (forbes.com) Center for the Study of Human Capital and Economic Growth at the University at Buffalo (SUNY)
World Bank Indicators | Data (https://data.worldbank.org/indi cator?tab=all)
John Mac Ghlionn 17.10.2021, The Epoch Times, “Впечатляющий показатель ВВП Китая - тоже ложь” https://www.epochtimes.ru/ (Researcher and essayist by the New York Post, The Sydney Morning Herald, Newsweek, National Review, and The Spectator US, among others.)
International statistics www.statista.com China: construction industry's share of GDP 2022
Source: State Statistic of China The Profit of Industrial Enterprises above Designated Size in 2022 (stats.gov.cn)
Ph.D. Prof. Salvatore Babones March 22, 2020, article “Yes China Is Lying About the Size of Its Economy, magazine The National Interest” (Centre for Independent Studies in Sydney, Australia, professor at the Univer sity of Sydney) nationalinterest.org
Yahoo Finance, China Evergrande Group (EGRNY) stock price, news, quote & history https://uk.finance.yahoo.com/quo te/EGRNY?p=EGRNY&.tsrc=fin -srch
Linan Liu China Daily | Feb 08, 2023, Pivoting to long-term resilience in 2023 Opinion Chinadaily.com.cn https://www.c hinadaily.com
PhD Prof. А.Д. Воскресенский, МГИМО МИД России; журнал «Сравнительная политика» 2019 Круглый стол: «Перспективы китайских реформ в изменившемся мире». Страница 5, Часть I DOI: 10.24411/ 2221-3279-2019-10019 Кибер Ленинка (cyberleninka.ru)
The Guardian, 2020 AidData a Research Lab at William & Mary VA report “China owed $385bn – including ‘hidden debt’ from poorer nations.”
Rachel Savage March 28, 2023 Reuters “China spent $240 billion bailing out 'Belt and Road' countries” - study on www. reuters.com
Senior Contributor of Forbes Ph.D. Prof. Bill Conerly | Apr 14, 2023 Art. Near-Shoring: Can Manufacturing Move From China To Mexico? (forbes.com)
Dr. Srivatsa Krishna| N100, Chou Hall Haas School of Business, The Financial Express, article “Is China still the factory of the world?” https://www. Financialexpress.com
Lori Ann La Rocco CNBC Oct. 2022, article “China, 'factory of the world,' is losing its manufacturing dominance (cnbc.com)”
Finbarr Bermingham, 2 Oct, 2020 in Chinese edition South China Morning Post (scmp.com) article “Donald Trump’s four years in power have ‘totally changed manufacturing’. https:// www.scmp.com
SIPRI databases | Stockholm International Peace Research Institute. https://www.sipri.org/ databases
China GDP and National Debt (https://countrymeters.info/en/C hina/economy) Source: www.imf. org International Monetary Fund 700 19th Street, N.W. Washington, D.C. 20431.