Myron Scholes Forum, October 24, 2011
After 30 years of hyper growth, China’s 12th Five-Year Plan (2011-2015) outlined new economic targets for growth and reform to face slower global economic growth and structural imbalances within its own economy. It calls for a slower pace of economic growth; more rapid increases in wages and consumption spending; a shift towards high value added manufacturing and services; development of affordable housing and social pensions; and deepening market reforms. The new targets appear to be a change of development strategy. The talk considers change and continuity in China’s development strategy in the past 60 years. It also considers the role of Hong Kong in the development of some aspects of China’s reform strategy.