Scientific Development: Master Plan or Myth?
Beijing plans to engineer a long-term transition to a more efficient “mode of growth.” Unlike the countercyclical policies described in the previous two chapters, this transition would allow for a permanent reduction in investment volatility. There would be less wasted investment during booms and less need for central government-led busts. Investment would not only become more productive but also account for a smaller share of final demand.
KeywordsCentral Government Productivity Growth Income Redistribution Chinese Leadership National People
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