Spend, spend, spend. The world’s eyes are on China’s masses, hopeful that the global economy will come out of the doldrums if China consumes more. Whether China’s growth will be sustainable critically depends on making the switch from investment/export driven growth to consumption driven growth. China did experience a remarkable consumption boom but it was in the 1980s. Professor Yasheng Huang from MIT Sloan School of Management shows in his research that the slow income growth, rather than high savings rate, is the cause behind consumption decline. The policy implication is that China needs to rebalance its domestic economy in favor of household income but this rebalancing act requires substantial reforms.
DATE: Monday, October 12
TIME: 12.30 (lunch not provided)
VENUE: 12F, Cheung Kong Graduate School of Business 长江商学院 (see bottom for full address and map)
ENTRANCE: free to FCCC members, 50 rmb on the door to non-members
REPLY to email@example.com to reserve your place and for security
ABOUT THE SPEAKER
Professor Huang Yasheng 黄亚生 is professor of political economy and international management and holds International Program Professorship in Chinese Economy and Business at Sloan School of
Management, Massachusetts Institute of Technology. His previous appointments include faculty positions at the University of Michigan and at Harvard University and consultant at the World Bank. His recent book Capitalism with Chinese Characteristics was picked by the Economist magazine as one of the Best Books of 2008. A detailed narrative account of history of economic reforms in China, his book shows that private entrepreneurship, facilitated by financial liberalization and microeconomic flexibility, played a central role in China’s economic miracle. The book predicted and discusses the current economic challenges facing China.
Professor Huang has published Inflation and Investment Controls in China (1996), FDI in China (1998), Selling China (2003) and Financial Reform in China (2005, co-edited with Tony Saich and Edward Steinfeld). At MIT Sloan School, Professor Huang founded and runs China Lab and India Lab, which aim to help entrepreneurs in China and India improve their management.
Cheung Kong Graduate School of Business 长江商学院
Oriental Plaza, 12th floor, Tower E3 (Ernst&YoungTower安永大楼)
1 East Chang An Avenue, Beijing 100738, China
地址：中国北京市东长安街 1 号东方广场东 3 座 12 层
English map: http://www.orientalplaza.com/eng/prime/transport.htm
Chinese map: http://www.orientalplaza.com/gb/prime/transport.htm
Cheung Kong’s website at http://en.ckgsb.com