Abstract
After the arrival of the Lewis turning point during the period from 2004 to 2010, the growth slowdown China faced is the natural result of potential growth rate’s decline, rather than caused by the impact of demand factors. On the specific development stage, attributing the slowdown of economic growth to insufficient demand is a common mistaken understanding, which easily leads to biased policy orientations and unsuitable policy prescriptions. As a result, referencing relevant economic theories with an open mind, draw experiences and lessons from other countries, and deeply understand Chinese economic reality, have vital policy significances for understanding the real reason of this slowdown, which helps preventing the occurrence of fishing-in-the-air policy misguidance and leads corresponding policy efforts to the right direction of seeking new growth engines.
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Gong Qiyong (2009).
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Lewis (1954).
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Chong-en Bai et al. (2006).
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Fang Cai and Zhao (2012).
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Fang Cai and Yang Lu (2013).
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Wu Xiaoying: Get Rid of the Complex of Speed and Give Space to the Reform– to View the Economic Growth Rate and Its Implications for the Structure Adjustment and Efficiency Improvement from the Comparison between China and East Asian Economies, China Economic Review. Globe Vision and Decision-making Reference edited by Boyuan Foundation, the 11th main journal of 2012 (the 60th of all).
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Du Yang and Qu Yue (2012).
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Asian Productivity Organization (2008).
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Brandt and Xiaodong Zhu (2010).
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Hayashi and Prescott (2002).
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Ranis (2004).
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Felipe (1997).
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Zhang Xinghui (2011).
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Cai, F. (2015). Engine for Sustainable Growth. In: Demystifying China’s Economy Development. China Insights. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-46103-7_6
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DOI: https://doi.org/10.1007/978-3-662-46103-7_6
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