China’s Economic Growth Cycles over the Past 60 Years and the Current New Cycle

LIU Shucheng

Institute of Economics, Chinese Academy of Social Sciences
Abstract:

This paper first summarizes China’s economic growth rate fluctuations over the past 60 years since 1949 and examines the new developments in China’s economic structure behind these fluctuations since reform and opening-up in the late 1970s. In tackling the global financial crisis, China is embracing a new economic cycle and must draw upon its economic history to prolong the upward momentum in the new cycle. To do so means maintaining an appropriate growth rate in the new cycle. This paper also analyzes the importance urbanization and the housing sector will play in the new cycle and how to address rising housing prices.

Key Words:

economic cycle, moderate growth rates, urbanization, housing prices

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