O "Novo Normal" da Economia Chinesa

Authors

Abstract

We examine the drivers of China’s recent economic growth slowdown considering a demand-led growth perspective and the structural changes over the last decades. We argue that such slowdown corresponds in part to a desired trajectory towards a growth pattern based on a greater protagonism of domestic consumption and a more balanced economy focused on innovation. This change referred as the “New Normal” responded to external and internal structural trends and distributive and institutional conflicts that, after 2008, reduced the low wage growth path and generated high real sate speculative investments. We argue that the New Normal will possibly lead to a moderate growth rate for China’s historical experience, but higher than that of the OECD, and possibly more socially and environmentally balanced than previously.

Author Biographies

  • Carlos Aguiar de Medeiros, UFRJ

    Professor Emérito do Instituto de Economia da UFRJ; 

     

  • Esther Majerowicz, UFRN

    Professora adjunta do Departamento de Economia e do Programa de Pós-Graduação em Economia da UFRN

Published

2024-08-28

Issue

Vol. 33 No. 3 (2024): Economia e Sociedade - Edição Especial: China

Section

China: development challenges, global influence and relations with Latin America and Brazil

License

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