China Center Special Briefing Paper: Re-Estimating Chinese Growth
For several years now, China Center researchers worked to illuminate China’s productivity performance — a critical input for gauging the overall sustainability of any economy. This is not an easy task, as data issues involved are very difficult. In this special briefing paper”, Senior Advisor to the China Center Harry X Wu presents the findings of his 30-year long work program on re-estimating Chinese GDP. Wu’s results indicate that Chinese TFP growth went negative during the period from 2007 to 2012. Overbuilding, overcapacity, underutilization, and the “advance” of the state into private sector markets are now substantially dragging on China’s growth.
[NOTE: updated version as of 20 June 2014]