China’s growth has continued apace, likely logging a 9 percent-plus figure for 2011, despite anemic growth in the United States and a deepening credit crisis across the Eurozone. However, this growth rate obscures mounting pressures in the Chinese economy that give many experts pause: a growing real estate market that some characterize as a bubble waiting to pop; inflation that threatens to undermine economic prosperity; environmental conditions that could derail recent gains; and a domestic consumption rate that lags behind the level many consider healthy for the country.
These concerns were addressed at the third annual forum at the New York Stock Exchange (NYSE) jointly organized by the National Committee on U.S.-China Relations and the China Center for Economic Research (CCER). Prominent Chinese economists shared their latest research, insights and forecast for 2012.
The 2012 forum featured one of China’s leading economists, Yu Yongding, from the Chinese Academy of Social Sciences and a former member of the Monetary Policy Advisory Committee of the People’s Bank of China. He spoke on China's recent macroeconomic trends and addressed several common misperceptions about the Chinese economy. Zuo Xiaolei, the chief economist of China Galaxy Securities, as well as CCER economists Yao Yang, Wu Ho-Mou, Lu Feng, Huang Yiping and Xu Jintao presented their latest forecast of the Chinese economy and shared their perspectives on issues such as the implications of an economic slowdown in China, the real estate market, local government debts, RMB internationalization, social security and domestic consumption, and the new strategy of the Chinese government to create a greener economy for the business world.
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The National Committee is grateful to its corporate partner, NYSE Euronext, for graciously providing the forum venue.
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