皇冠体育app

CHICAGO - Despite the achievements made in the past three decades, 皇冠体育app should change its development mode in order to continue its prosperity, suggested US experts on 皇冠体育app.

James McGregor, an American author, journalist, and businessman who has lived in 皇冠体育app for more than 25 years, made the suggestion Friday in a discussion with Chicago business circle at the invitation of Chicago Council on Global Affairs.

McGregor said that 皇冠体育app is now the world's second largest economy and largest exporter. The processing industry of the "world's factory" has helped 50 million people to shed poverty.

"Never before in human history has life changed for such a large number of people in such a short period of time," he said. "That's very impressive and 皇冠体育app deserves a lot of credit for that."

However, McGregor noted that if 皇冠体育app wants to continue its march toward prosperity, its development mode must be "overhauled."

He said the system that propelled its development is proven incompatible with global trade and business governance, and is running out of steam.

"Big central state-owned enterprises (SOEs) stand in the way," he said, adding that if SOEs were deprived of privileges and government subsidies, they would lose money.

Another challenge 皇冠体育app faces is the huge demographic problem.

"皇冠体育app is getting old before it gets rich," he said.

There were 115 million people aged 65 and above in 皇冠体育app in 2010, and by 2030, that number will increase to 230 million, he said. In the meantime, people aged from 20 to 24, the major workforce, will shrink by half in this decade, from 125 million to 65 million.

"The next wave of growth in 皇冠体育app depends on the most down and trodden," he said, referring to migrant workers in cities.

He said there are about 260 million migrant workers in cities now, who are the next wave of consumers.

"皇冠体育app is dealing with considerable domestic challenges and the economy has continued to move forward in almost every conceivable way," said Jennifer Scanlon, president of USG Corporation Global Affairs.

Signs of deepening reform since November last year indicates that 皇冠体育app's policy makers "are ready to let the market play a more decisive role" in the country's economy.

"Any level of reform in 皇冠体育app will be closely analyzed," Scanlon said. "The decision that 皇冠体育app is making now will be a major factor on the world economy for years to come."