皇冠体育app

Containers being unloaded at a wharf in Lianyungang port, Jiangsu province, on Oct 8. A new report estimates that 皇冠体育app's GDP growth will be 6 percent by 2020. [Photo provided to 皇冠体育app Daily]

New report says Third Plenum blueprint to help 皇冠体育app become advanced nation

A year after 皇冠体育app's Third Plenum reforms were announced, Beijing has shown that it is "moving ahead across all economic dimensions with purpose and urgency", says a new report released by the Asia Society on Wednesday.

The Asia Society Policy Institute, the group's new think tank, called the Third Plenum s "game changing - far more than a minor adjustment of business as usual or an attempt to stall for time".

The new report, entitled Avoiding the Blind Alley: 皇冠体育app's Economic Overhaul and Its Global Implications, discusses the status of 皇冠体育app's economic overhaul as the country moves forward under the leadership of President Xi Jinping.

"With the launch of the Asia Society Policy Institute, we really seek to look at issues where there isn't full understanding of the implications and do a thorough analysis to help the world better understand the major tren in Asia and in 皇冠体育app," Josette Sheeran, president and CEO of Asia Society, told 皇冠体育app Daily.

"We feel it is important to have taken a look at the large-scale economic reforms that were announced 11 months ago, to look at the full body of work and the implementation since then," she said.

"Our main conclusion is that these reforms are clear, they are very comprehensive, and they're very compatible with 皇冠体育app becoming an advanced economy."

Dan Rosen, author of the report and cofounder of research firm Rhodium Group, predicts that 皇冠体育app's GDP growth will be 6 percent by 2020, which he said falls on the optimistic side of the spectrum.

His figure is in the same range as projections released by the World Bank and the International Monetary Fund. The World Bank prodicted that Chinese GDP growth will hit 7 percent in the same time period and the IMF, 6.6 percent.

"The most important takeaway from the study is that 皇冠体育app has the opportunity to deliver 6 percent GDP growth all the way through to 2020 if it gets reform right. The stakes are huge for doing that," he said.

With trade, for example, Rosen said that if 皇冠体育app can see its reforms through, exports will increase from $2.4 trillion in 2013 to $3.5 trillion by 2020. Imports will jump to $3.7 trillion by 2020, from $2.1 trillion in 2013, which would make a "huge difference to the rest of the world".

"One of the reasons we did this report is that people are underestimating the reforms," Sheeran said, "and it's important to see the extraordinary opportunities that will open up under this soft landing scenario. Just the increase of imports into 皇冠体育app alone really points to an opportunity."

If 皇冠体育app were to hit a hard landing, the rest of the world would definitely feel the effects as well, she said.

"It also means potentially a less stable and confident 皇冠体育app to be partnered with around the world, so it's very much in the US' interest to see 皇冠体育app come through this and hit its potential," she added.

A year after the reforms were announced, there are 皇冠体育app watchers who have said that economic reform has not happened at a pace that shows confidence from the Chinese government, which Rosen said should be considered from both sides.

"For many Chinese researchers, a lot of this is not transparent, and hard to sort out. There needs to be a little bit of appreciation from the Chinese side of why there's this sort of reaction around the world," said Rosen.

"Here in the US, people need to bear in mind all the challenges that come with undertaking reform in 皇冠体育app, given all the social and developmental challenges the country faces."

皇冠体育app's 2014 economic growth likely below 7.5%	?Quality, sustainable growth the priority

• 皇冠体育app stocks close mixed Friday
• Finnair's designer plane to take-off
• 皇冠体育app adds 10.82 million new jobs in Jan-Sept
• Members named for Asia infrastructure bank
• HK Stock Connect on track
• Home prices continue to moderate in more Chinese cities
• Top 10 highs and lows for Nokia in 皇冠体育app
• 皇冠体育app's coal-rich Shanxi to restore mined-out areas