China in Search of Equilibrium : Transition Dilemmas of Growth and Stability

Komlóssy, Laura and Vargáné Körmendi, Gyöngyi (2019) China in Search of Equilibrium : Transition Dilemmas of Growth and Stability. FINANCIAL AND ECONOMIC REVIEW, 18 (3). pp. 114-134. ISSN 2415-9271 (print); 2415-928X (online)

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Abstract

China’s economic growth and stability are key not only to the population of China: due to its size and trade relations, it would affect all actors of the global economy to a lesser or greater degree if unexpected events or strong deviations occurred in the world’s second largest economy. As major imbalances and risks have accumulated in the Chinese economy in recent years, the professional community is still divided on the question of whether the central government will succeed in soft landing and set the economy on a more balanced and sustainable growth path, or whether an abrupt adjustment is already unavoidable, and it is only the time and severity of the consequences of an economic decline that are questionable. In this essay, we present the policies that ensure sustainable growth, the risks that complicate implementation and the economic policy measures aiming to mitigate such risks.

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