China’s Economic Ascend
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On September 12, 2013 the Strategic Studies Institute Islamabad (SSII) held a roundtable discussion on “China’s Economic Ascend.” The discussion highlighted China’s economic future and confidence of the Chinese leadership to sustain a high-level of economic growth in future with readjusting the macroeconomic policies. Mr. Fazal-ur-Rahman, Director of the Institute, made a comprehensive presentation focusing on China’s future economic growth and its position as an engine of global economic growth. “China is passing through a period of economic transition” he said. The Director counter argued the Western media’s speculative analysis that China’s Economic Growth is unsustainable. The speaker highlighted some of the challenges to economic restructuring and expressed optimism that China will maintain above 7 percent growth rate to double its GDP by 2020. He further said that the new Chinese government has made clear its policy to sustain economic growth, improve people’s well-being and promote social equality.
In recent years, China has heavily invested in education, and research and development which will ensure a sustained economic growth in the long term. The speaker was optimistic and said that the Chinese leadership is aware of the all the problems and referred to the vision of new Chinese Premier H.E. Lie Keqiang’s recently published article in the Financial Times (UK), “We can no longer afford to continue with the old model of high-consumption and high investment. Instead we must take a holistic approach in pursing steady growth, structural readjustment and further reform.”
Officials of the Chinese Embassy and Chinese media were in attendance besides a select group of experts and students from local universities who raised very interesting questions during the discussion.
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