- China has transitioned through different stages of economic development, moving from a factor-driven to investment-driven economy and now focusing on innovation-driven growth.
- Current main sources of economic growth in China include investment, consumption, and trade surplus, but these sources face challenges in being sustainable long term.
- To develop new sources of growth, China is focusing on raising productivity through investments in human capital, R&D, and reforms to encourage more productive investment and increase household consumption. Attracting overseas talent and addressing skill mismatches are also priorities.
- While a sudden economic hard landing is unlikely in the near future due to China's financial resilience, slower productivity growth poses a long term risk to maintaining
Can Australia find a business model to keep the good times going?
Prof. Thomas Clarke, Professor William Lazonick - 12 July 2012
Use the hashtag #utspeaks to further the discussion on twitter.
UTSpeaks is an annual free public lecture series presented by UTS experts discussing a range of important issues confronting contemporary Australia.
Can Australia find a business model to keep the good times going?
Prof. Thomas Clarke, Professor William Lazonick - 12 July 2012
Use the hashtag #utspeaks to further the discussion on twitter.
UTSpeaks is an annual free public lecture series presented by UTS experts discussing a range of important issues confronting contemporary Australia.
Global business attorney Vinita Bahri-Mehra, in partnership with Ohio Development Services Agency, presented "Growing through China: A Comprehensive Look at Market Opportunities" as a panel discussion on Wednesday, September 17. The panel, which brought together local industry professionals to share best practices for conducting business in China, discussed how the world's second-largest economy is increasingly playing an important and influential role in the global economy.
Tunisian Minister of Foreign Affairs and Former Head of the UN Commission on...Wesley Schwalje
A key challenge to knowledge-based economic development faced by Arab countries is weak innovation systems. We are honored to have had our research on Arab innovation systems cited by Dr. Mongi Hamdi, former Head, Science, Technology, and ICT at UNCTAD and Head of the Secretariat of the United Nations Commission on Science and Technology for Development (now Tunisian Minister of Foreign Affairs) in his address to the Arab Forum for Scientific Research and Sustainable Development.
Michael_Enright_India_and_the_world_The_India_Dialog_2024.pptxDr. Amit Kapoor
Presentation done by Michael Enright, Pierre Choueiri Family Professor in Global Business, Northeastern University on "India and the World" at #TheIndiaDialog on February 29, 2024 at Stanford University. The #TheIndiaDialog was organised by Institute for Competitiveness and US Asia Technology Management Center at Stanford University.
#TheIndiaDialog looks at inviting the world’s leading experts and intellectuals in the areas of economics, business, policy, social development, science, technology, art and culture to provide their perspectives and foster an understanding of India. There would be a series of keynote addresses, panel discussions, and fireside chats during the dialog.
Harnessing Science and Technology: Reviving the Philippine Manufacturing SectorNEDAhq
Keynote address of Socioeconomic Planning Secretary and NEDA Director-General Arsenio M. Balisacan during the 35th Annual Scientific Meeting of the National Academy of Science and Technology (NAST), Manila Hotel,10 July 2013
Giáo sư Tony Makin tham gia VEAM 2015 với bài trình bày về “Triển vọng cho nền kinh tế châu Á”.
Professor Tony Makin joined in VEAM 2015 with the presentation about “Prospect for the Asian Economy”.
Để biết thêm chi tiết về các hoạt động và nghiên cứu của DEPOCEN truy cập:
Website: http://depocen.org/vn/
LinkedIn: http://linkd.in/1GnHrHB
Facebook: DEPOCEN
Apresentação em inglês, do diretor do Centro de Desenvolvimento da OCDE, Mario Pezzini, sobre as perspectivas de desenvolvimento global 2013 e velocidade das políticas industriais num mundo em mudança. Apresentação mostrada na “Conferência Internacional sobre Sustentabilidade e Promoção da Classe Média”, ocorrida em 25 de setembro de 2013. Veja mais na matéria: http://ow.ly/poL9G
Strategizing the Covid-19 response for a country (Biswadeep Ghosh Hazra) - {N...Biswadeep Ghosh Hazra
Problem Statement- Asses the situation of China and, after a round of brainstorming, googling and fact-checking, come up with a solution that can liberate the country of its present problems. The solution that you are providing must take into account how China can lure in companies, solve its COVID crisis, internal issues and pay its labours sufficiently.
The case study entailed making a countrywide strategy in the wake of the COVID-19 crisis. My solution revolved around suggesting the country from being a manufacture driven economy to a service-driven one, as almost all developed nations have a strong service sector that contributes a significant chunk to the GDP
This study, drafted by the ITO company Officience, describes and analyses recent evolutions in the Vietnam's development, then focuses on ITsector. Actually, this growing country has emerged two decades ago and since it has known a huge leap forward. Thanks to this growth, Vietnam received more and more investings from foreign companies. This study brings out some macroeconomic and social specificities, espacially regarding the education field.
Dealing with IT issues, the Officience company underlines in this study levers used by Vietnam to promote and develop that IT sector. Indeed, this sector will go on growing and Vietnam is already perceived as a future leader of worldwide outsourcing services.
"Productivity: Why it matters", by Catherine L. Mann, OECD Chief Economist and G20 Deputy, Global Dialogue on the Future of Productivity,: Towards an OECD productivity Network, 6-7 July 2015, Mexico.
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how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
More Related Content
Similar to Keynote Speech III: Chinese Economic Slowdown and New Sources of Economic Development
Global business attorney Vinita Bahri-Mehra, in partnership with Ohio Development Services Agency, presented "Growing through China: A Comprehensive Look at Market Opportunities" as a panel discussion on Wednesday, September 17. The panel, which brought together local industry professionals to share best practices for conducting business in China, discussed how the world's second-largest economy is increasingly playing an important and influential role in the global economy.
Tunisian Minister of Foreign Affairs and Former Head of the UN Commission on...Wesley Schwalje
A key challenge to knowledge-based economic development faced by Arab countries is weak innovation systems. We are honored to have had our research on Arab innovation systems cited by Dr. Mongi Hamdi, former Head, Science, Technology, and ICT at UNCTAD and Head of the Secretariat of the United Nations Commission on Science and Technology for Development (now Tunisian Minister of Foreign Affairs) in his address to the Arab Forum for Scientific Research and Sustainable Development.
Michael_Enright_India_and_the_world_The_India_Dialog_2024.pptxDr. Amit Kapoor
Presentation done by Michael Enright, Pierre Choueiri Family Professor in Global Business, Northeastern University on "India and the World" at #TheIndiaDialog on February 29, 2024 at Stanford University. The #TheIndiaDialog was organised by Institute for Competitiveness and US Asia Technology Management Center at Stanford University.
#TheIndiaDialog looks at inviting the world’s leading experts and intellectuals in the areas of economics, business, policy, social development, science, technology, art and culture to provide their perspectives and foster an understanding of India. There would be a series of keynote addresses, panel discussions, and fireside chats during the dialog.
Harnessing Science and Technology: Reviving the Philippine Manufacturing SectorNEDAhq
Keynote address of Socioeconomic Planning Secretary and NEDA Director-General Arsenio M. Balisacan during the 35th Annual Scientific Meeting of the National Academy of Science and Technology (NAST), Manila Hotel,10 July 2013
Giáo sư Tony Makin tham gia VEAM 2015 với bài trình bày về “Triển vọng cho nền kinh tế châu Á”.
Professor Tony Makin joined in VEAM 2015 with the presentation about “Prospect for the Asian Economy”.
Để biết thêm chi tiết về các hoạt động và nghiên cứu của DEPOCEN truy cập:
Website: http://depocen.org/vn/
LinkedIn: http://linkd.in/1GnHrHB
Facebook: DEPOCEN
Apresentação em inglês, do diretor do Centro de Desenvolvimento da OCDE, Mario Pezzini, sobre as perspectivas de desenvolvimento global 2013 e velocidade das políticas industriais num mundo em mudança. Apresentação mostrada na “Conferência Internacional sobre Sustentabilidade e Promoção da Classe Média”, ocorrida em 25 de setembro de 2013. Veja mais na matéria: http://ow.ly/poL9G
Strategizing the Covid-19 response for a country (Biswadeep Ghosh Hazra) - {N...Biswadeep Ghosh Hazra
Problem Statement- Asses the situation of China and, after a round of brainstorming, googling and fact-checking, come up with a solution that can liberate the country of its present problems. The solution that you are providing must take into account how China can lure in companies, solve its COVID crisis, internal issues and pay its labours sufficiently.
The case study entailed making a countrywide strategy in the wake of the COVID-19 crisis. My solution revolved around suggesting the country from being a manufacture driven economy to a service-driven one, as almost all developed nations have a strong service sector that contributes a significant chunk to the GDP
This study, drafted by the ITO company Officience, describes and analyses recent evolutions in the Vietnam's development, then focuses on ITsector. Actually, this growing country has emerged two decades ago and since it has known a huge leap forward. Thanks to this growth, Vietnam received more and more investings from foreign companies. This study brings out some macroeconomic and social specificities, espacially regarding the education field.
Dealing with IT issues, the Officience company underlines in this study levers used by Vietnam to promote and develop that IT sector. Indeed, this sector will go on growing and Vietnam is already perceived as a future leader of worldwide outsourcing services.
"Productivity: Why it matters", by Catherine L. Mann, OECD Chief Economist and G20 Deputy, Global Dialogue on the Future of Productivity,: Towards an OECD productivity Network, 6-7 July 2015, Mexico.
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Webinar Exploring DORA for Fintechs - Simont Braun
Keynote Speech III: Chinese Economic Slowdown and New Sources of Economic Development
1. Chinese Economic Slowdown and New
Sources of Economic Development
Tony Fang
Stephen Jarislowsky Chair in Economicand Cultural Transformation
University of Toronto, Memorial University of Newfoundland, & IZA
1st International Workshop on the Chinese Development Model
The Chinese Development and Modernization Experience: Defying mainstream
economic theories to achieve unprecedented progress
IQS School of Management, Universitat Ramon Llull
Barcelona, Spain, July 7-8, 2022
4. Now and Then…
• China was the world’s largest economy in 1820 – and is the second largest
economy today
• China lifted more people out of poverty than any other country
• China experienced a marked slow-down of GDP growth
• The private sector is the main driver of growth and employment
• China is developing middle class consumers
• China is the world’s largest exporter and the second largest importer of
merchandise goods
• China is the third largest provider and the top receiver of foreign direct
investment (FDI)
5.
6. Figure 2. Share of World GDP (%) of China and U.S
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020
China U.S.
24.75%
17.4%
7. Three Stages of Competitive Development
• Three stages of competitive development (Michael Porter: The
Competitive Advantages of Nations, 1990)
• The first is the factor-driven stage and competitive advantages are
low-cost labour and unprocessed natural resources. Value added is
minimum: 1979-2006
• The second is the investment-driven stage. Firms begin producing
more sophisticated goods and services: 2007-2014
• The third is the innovation-driven stage. Firms compete on global
level by producing innovative products and services: 2007-ongoing
9. Stephen Jarislowsky chair in Culturaland Economic Transformation MAY 12, 2021
19.3
20.3
21.9
23.5
24.9
27.4
30
32.6
35
36.7
38.4
18
23
28
33
38
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020
Figure 4. The median age of the Chinese
population from 1970 -2020
10. Main Sources of Economic Development
• Investment (43.5% in 2020, 60% in infrastructure and property
development)
• Consumption (less than 40% of GDP, global average in other
countries: 60%)
• Trade surplus (5% of GDP)
12. Figure 6. Household Consumption as Share of GDP
in Select East Asia Economies
0
10
20
30
40
50
60
70
80
90
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
China
Hong Kong
Japan
Korea
Malaysia
Singapore
13. Figure 7. Gross Capital Formation as Share of GDP in Select East
Asian Economies
0
10
20
30
40
50
60
China
Hong Kong SAR, China
Japan
Korea, Rep.
Malaysia
Singapore
Thailand
14. Implied Rate of Return to Capital (from growth accounting
equation): Perkins, 2016, 2019
AggregateCapital
Output Ratio
Rate of
Return to
Capital*
1979--
1996 1.91 22.56%
1997-2005 1.89 22.79%
2006-2011 2.3 18.68%
2012-2014 2.85 15.10%
* Assumes MPK x K/O = .43
15. China: Supply Side Sources of
Growth (Perkins, 2016)
Growth Rate
(%)
Contribution to
Growth (%)
Period GDP
Fixed
Capital
Raw
Labor
Educati
on
Enhanc
ed
Labor TFP Capital
Educati
on
Enhanc
ed
Labor TFP
1953-
1957 6.5 1.9 1.2 1.7 4.7 12.7 14.9 72.4
1958-
1978 3.9 6.7 2 2.7 -0.5 73.7 39.7 -13.4
1978-
2005 9.5 9.6 1.9 2.7 3.8 43.7 16.2 40.1
2006-
2011 11 15.2 0.4 2.1 3.3 59.4 10.9 29.7
2012-
2015 7.4 11.9 0.4 2.1 1.1 69.1 16.2 14.7
19. Five Paths Forward
• Maintain status quo: high-level growth fueled by non-productive
investment, inflated debt burden- unsustainable
• No new investment: economic contraction, lower GDP growth to 2-3%.
May be politically unacceptable
• Raising trade surplus: hard to do, 1% of world GDP (need 3% per year). Belt
and Road Initiative: a blue-sky strategy to create new markets for Chinese
goods and services and excessive capital investment for potential higher
return
• Moving towards productive investment: human capital, R&D, advanced
technologies, private business investment,etc.
• Raising the share of consumptionto GDP: labour share is low (wages,
salaries, other income, and transfers), constraining consumption power.
Anti-poverty measures and common prosperity policies focus on income
redistribution from the wealthy to the poor and middle class, need strong
incentives & major transformation in social/political/economicinstitutions
20. A Hard Landing is Unlikely Anytime Soon
• Most hard landing stories start from one financial problem or another.
Current problem: massive buildup of debt combined with the financial
institutions are using to get around capital requirements, and government
regulations, etc.
• But the financial problems of the present as well as the past have mostly
involved debt owed by one Chinese entity to another. Those kinds of debt
can always be dealt with without a sharp recession by printing money.
• One has to combine these financial stories with rising foreign debt and
weak foreign exchange reserves to get to a financial crisis and recession.
That could happen in a few years but not with forex reserves of $3.22
trillion and very limited foreign debt (January 2022).
21. The Real Problem
• The continued effort to avoid politically difficult decisions with
continuous bail outs is itself leading to conditions that could slow
GDP growth below catch up levels.
• But the financial bail outs are only part of the problem.
• The sources of rapid growth in the past (high TFP growth) are largely
gone.
• The shift from a Soviet type economy to a market economy, the
technically easy parts, has been accomplished.
• Rapid export growth has also come virtually to a halt.
22. The Major Challenges
• Maintaining high productivity growth and a high rate of return to
capital investment through rapid implementation of major market
oriented reforms
• Large expenditures on human capital, research and development
that produce innovations that are implemented and can also keep
productivity and the rate of return up.
• But there is a structural feature to China’s economy that, together
with the way the government is handling the problems it creates,
threatens to slow productivity growth and the rate of return to
capital.
23. What are the major HC problems?
• Education and Training
New Sources of Economic Development?
• Ageing population and ageing workforce
• Skill mismatches (university graduates; second generation
migrants): skills required by the high-tech manufacturing;
rising of digital economy and platform employment
• Quantity vs. Quality of human capital: consequences of
enrolment expansions (Taiwan)
• Graduate employability, innovation skills
• Top talents in STEM fields (bottlenecks)
• More on-the-job training, apprentice program (Germany)
24. What are some possible solutions?
• Education and Training:New Sources of Economic
Development?
• Relaxation of the Hukou system: increased job mobility and
reduced skill mismatch
• Subsidies to technical skill training, especially to rural
residents and for high-tech manufacturing, to reduce
educational inequality
• Early Child Development: new sources of economic
development (James Heckman)
• Global talent management: focus on high-end technological
and managerial talents to mitigate the top talent bottlenecks
26. • The mismatch between jobs and skills will become the main problem in the
Chinese labour market
• There is a huge demand for innovative, applied, and technologicaltalents in
high-tech manufacturing and digital economy
• The share of skilled workers has risen to about 30% of workforce,it remains
low compared with other manufacturingpowerhouses
• Another way to assess the strength of HC and economicsophistication is the
return of its Diaspora (comparison of China and Ireland in the transition to
the innovation-competition wave): From Brain Drain (Jagdish Bhagwati,
Columbia, 1970s) to Brain Gain (Robert Lucas, Chicago, 1990s) to Brain
Circulation (AnnaLee Saxenian,Berkeley,2000)
Skill Mismatch and High Demand for Applied Technological Talents
28. • Presidential Young Investigator Award (CAREER) and Presidential Early
Career Awards for Scientists and Engineers (PECASE)(USA, offering funding
up to $640,000 over a 5-year period for junior researchers)
• In 2000, the Government of Canada created a permanent program to
establish 2,000 research professorships (Canada Research Chairs, $300
million) in Canadian universities.
• Federation Fellowship Program (Australia, $221,261 annum)
• Marie Curie Program (EU, $410,161 annum)
• Humboldt Research Awards (Germany, valued at 60,000 EUR over 1-year
period)
• One Hundred Talent Program ($450,000 over 3-year period) Cheung Kong
Scholar Program ($200,000 over 3-year period), Thousand Talent Program
($450,000 startup + $100,000 annum) (China)
2022-09-20 @ Qiang Zha 28
Global Talent Programs
29. • Members of National Academy of Sciences: 80+;
• Members of National Academy of Engineering: 140+。
• Professors of Chinese decent teaching at American top universities such
as Harvard, Princeton/ Yale/ Cornell/ Brown: 100+
• About 200,000 Chinese 985 university graduates working in the US, 61%
of them served as Senior Engineers or above positions in IT, Internet,
database, and Computer related occupations
Chinese Top Scholars in the US (2019)
30. • The boom of studying in America is striking
• According to the statistics(June, 2018), more than 340,000 students from
China enrolled in US in 2017-18, or 33% of all foreign students
• In the meantime, more Chinese students returned home: over 3.64
million returnees (out of 5.86 million) since 1978
• In 2018, the number of Chinese students returning from overseas
reached 519,400, which was the highest number recorded.
Chinese Students in the U.S. (2018)
34. • China has successfullypassed the factor-driven and investment-driven stage of
economic development.The innovation-drive growth is ongoinghas yet
completed
• New sources of economicgrowth: productive investment (HC, R&D), rising
consumption (Common Prosperity),and rising trade surplus (BRI)
• A Hard Landing is Not VeryLikely Anytime Soon
• The real problem:high productivitygrowth and a high rate of return to capital
investment through rapid implementation of major market oriented reforms
• New sources of economicdevelopment from HCD: addressingthe skill
mismatch, improvinglabour mobility, investing in earlychild development,
developingrural human capital, and attracting top talents from overseas
ConcludingRemarks