Myron Scholes Forum, April 30, 2015
David Dollar, Senior Fellow; Foreign Policy; Global Economy and Development, John L. Thornton China Center; Brookings Institution
China’s leaders have set progressively lower growth targets as they grapple with the need to restructure their economy away from excessive reliance on investment and exports, and towards greater consumption. David Dollar, Senior Fellow in the China Center at Brookings and former World Bank and Treasury representative in Beijing, discussed the economic reform program unveiled at the Third Plenum in fall 2013. What are the key reforms needed to shift the growth model? What has been the progress with reform during a year and a half of implementation?
Progress in areas such as financial liberalization has been steady, whereas fiscal and state enterprise reforms have been more difficult. Who are the key interest groups pushing for or retarding reform? Can China succeed in thoroughgoing economic reform without parallel efforts for political liberalization? In his talk and during the question-and-answer period, Mr. Dollar addressed these key questions regarding China’s reform prospects, the success or failure of which will have significant implications for the world economy.