Thursday, October 20, 2011
The Commonwealth Club, The Gold Room
595 Market Street, 2nd Floor
San Francisco, CA 94105
Cost: $8 with coupon code: sfforsiwei (at checkout); More details here
Sponsored by: The Commonwealth Club of California and The Asia Foundation
Over the past couple of decades, China’s rapid economic growth has largely relied on heavy investment in infrastructure and high levels of bank lending to government-supported projects, a trend which many analysts argue cannot continue. In order to rebalance the economy, Chinese policy makers are working to cut back on investment spending and boost domestic consumption, which is in line with China’s current five-year plan (2011-2015) to promote more inclusive, broad-based growth. But, as China’s households consume only about 35% of GDP, far below any other country, this will be no easy task.
Speaker: Mr. Cheng Siwei, a noted economist and former Vice Chair of the Standing Committee of the National People’s Congress, has played a key role in his country’s economic transformation over the last 20 years. He is uniquely qualified to present an insider’s perspective on China’s efforts to rebalance its economy and maintain an adequate growth trajectory. Mr. Cheng is the recipient of The Asia Foundation’s Chang-Lin Tien Distinguished Visiting Fellow Award, established as a tribute to the late Chair of The Asia Foundation’s Board of Trustees and Chancellor of the University of California at Berkeley. His visit follows the recent publication of his collected works, titled “Economic Reforms and Development in China, Vol. 1.”