China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives
China's economy is slowing, reflecting cyclical factors and longer-term structural trends. Notwithstanding the recent conclusion of the phase one agreement between China and the United States, short-term risks remain tilted to the downside am...
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/215531576769442917/China-Economic-Update-December-2019-Cyclical-Risks-and-Structural-Imperatives http://hdl.handle.net/10986/33063 |
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okr-10986-330632021-05-25T09:30:57Z China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives World Bank Group ECONOMIC GROWTH TRADE PRICES DEBT RISKS ECONOMIC OUTLOOK SUSTAINABLE GROWTH PRODUCTIVITY AIR QUALITY POLLUTION CONTROL China's economy is slowing, reflecting cyclical factors and longer-term structural trends. Notwithstanding the recent conclusion of the phase one agreement between China and the United States, short-term risks remain tilted to the downside amid a fragile global outlook and the lingering impact of trade tensions, especially on confidence. Adverse demographics, tepid productivity growth, and the legacies of excessive borrowing and environmental pollution will continue to weigh on growth over the medium term. If downside risks lead to a sharp reduction in growth, the authorities have policy space to act, but this needs to be done in a way that is consistent with reducing financial and corporate sector risks and achieving the desired rebalancing of the economy toward consumption and private investment. The key medium-term priorities are to deepen structural reforms to strengthen productivity growth and private investment, while accelerating rebalancing toward consumption, services, and green growth. This would require addressing market distortions and mainstreaming environmental sustainability into China's medium-term development strategy. Implementation of these priorities would boost China's long-term growth prospects; it would also help move toward a more comprehensive and lasting resolution of remaining deep-seated disagreements on global trade and investment, and public goods agenda. 2019-12-19T20:00:27Z 2019-12-19T20:00:27Z 2019-12 Report http://documents.worldbank.org/curated/en/215531576769442917/China-Economic-Update-December-2019-Cyclical-Risks-and-Structural-Imperatives http://hdl.handle.net/10986/33063 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific China |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH TRADE PRICES DEBT RISKS ECONOMIC OUTLOOK SUSTAINABLE GROWTH PRODUCTIVITY AIR QUALITY POLLUTION CONTROL |
| spellingShingle |
ECONOMIC GROWTH TRADE PRICES DEBT RISKS ECONOMIC OUTLOOK SUSTAINABLE GROWTH PRODUCTIVITY AIR QUALITY POLLUTION CONTROL World Bank Group China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
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East Asia and Pacific China |
| description |
China's economy is slowing,
reflecting cyclical factors and longer-term structural
trends. Notwithstanding the recent conclusion of the phase
one agreement between China and the United States,
short-term risks remain tilted to the downside amid a
fragile global outlook and the lingering impact of trade
tensions, especially on confidence. Adverse demographics,
tepid productivity growth, and the legacies of excessive
borrowing and environmental pollution will continue to weigh
on growth over the medium term. If downside risks lead to a
sharp reduction in growth, the authorities have policy space
to act, but this needs to be done in a way that is
consistent with reducing financial and corporate sector
risks and achieving the desired rebalancing of the economy
toward consumption and private investment. The key
medium-term priorities are to deepen structural reforms to
strengthen productivity growth and private investment, while
accelerating rebalancing toward consumption, services, and
green growth. This would require addressing market
distortions and mainstreaming environmental sustainability
into China's medium-term development strategy.
Implementation of these priorities would boost China's
long-term growth prospects; it would also help move toward a
more comprehensive and lasting resolution of remaining
deep-seated disagreements on global trade and investment,
and public goods agenda. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
| title_short |
China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
| title_full |
China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
| title_fullStr |
China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
| title_full_unstemmed |
China Economic Update, December 2019 : Cyclical Risks and Structural Imperatives |
| title_sort |
china economic update, december 2019 : cyclical risks and structural imperatives |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/215531576769442917/China-Economic-Update-December-2019-Cyclical-Risks-and-Structural-Imperatives http://hdl.handle.net/10986/33063 |
| _version_ |
1764477918166122496 |