Description

Although the historical opening up in the 1970s has granted China decades of rapid economic growth, China now has gradually slowed down its pace and is trying to discover new growth engines. The New Normal Era characterised by a slow but sustainable economic development not only demands reform and adaption from China, but also provides the world with a new mixture of opportunities and challenges.As the fourth instalment of ACI's annual analysis of the dynamics of competitiveness for Greater China, this volume includes the rankings and simulations results at both provincial and regional level, serving as a guide for policy makers to avoid the potential pitfall of growth slowdown and for industry leaders and other stakeholders to identify the hidden opportunities and challenges. As China is now progressing in the New Normal Era with an emphasis on the transformation into an innovation-driven economy, it is important to understand the relative strength and weakness of each individual economy so as to design optimal development blueprints specific to its current situation. This book therefore dedicates one chapter to the analysis of each economy based on its income group in a hope to help the economy identify the specific determinants of growth slowdown and mitigate the problem by focusing available resources on the most relevant aspect.