Chancellor Hong Yinxing
Innovative Development of China’s Future Economy
Joukowsky Forum, Watson Institute
111 Thayer Street
After becoming the world’s second largest economy, China needs a new, innovative theory of economic development to push itself forward. Old approaches are faced with challenges: cheap labor supply will run out, exports alone is insufficient to sustain growth, and China’s energy-intensive industries are largely unsustainable. In crafting a “new theory for economic development,” Chancellor Hong focused on role of domestic consumption, equality of income, technological innovation, and structural changes of the economy.
A Year of China event in collaboration with the Rhodes Center for International Economics and Finance, the Watson Institute, the Office of International Affairs, and the Department of Economics.