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UNU-WIDER Approaching a Triumphal Span: How Far Is China Towards its Lewisian Turning Point

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A teenager wears torn rubber boots in a muddy local market in Bac Ha, Viet Nam. As of 2005 figures, half the world population—more than 3 billion people–is estimated to live on less than USD 2.50 a day. Bac Ha, Viet Nam. UN Photo/Kibae Park.

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Approaching a Triumphal Span: How Far Is China Towards its Lewisian Turning Point?

With the aid of an analytical framework of the Lewis model revised to reflect the experience of China, this paper examines the country’s dualistic economic development and its unique characteristics. The paper outlines the major effects of China’s growth as achieved during the course of economic reform and the opening-up of the country: the exploitation of the demographic dividend, the realization of comparative advantage, the improvement of total factor productivity, and participation in economic globalization. By predicting the long-term relationship between the labour force demand and supply, the paper reviews the approaching turning point in China’s economic development and examines a host of challenges facing the country in sustaining growth.
Publisher:
UNU-WIDER
Series:
WIDER Research Paper
Volume:
2008/09
Title:
Approaching a Triumphal Span: How Far Is China Towards its Lewisian Turning Point?
Authors:
Fang Cai
Publication date:
February 2008
ISSN Web:
1810-2611
ISBN 13 Web:
9789292300517
Copyright holder:
© UNU-WIDER
Copyright year:
2008
Keywords:
demographic dividend, Lewisian turning point, economic development, China
JEL:
J11, J21, O53
Project:
Southern Engines of Global Growth
Sponsor:
The governments of Denmark (Royal Ministry of Foreign Affairs), Finland (Ministry for Foreign Affairs), Norway (Royal Ministry of Foreign Affairs), Sweden (Swedish International Development Cooperation Agency — Sida) and the United Kingdom (Department for International Development).
Format:
online

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