Friday, September 16, 2005
[IWS] OECD Policy Brief: CHINA Economic Survey 2005 [16 September 2005]
IWS Documented News Service
_______________________________
Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
________________________________________________________________________
[Please note: this is the first Economic Survey of China produced by the OECD]
OECD Policy Brief:
Economic Survey of China 2005 [16 September 2005]
http://www.oecd.org/dataoecd/10/25/35294862.pdf
[full-text, 8 pages]
See also-
Economic Survey of China 2005
http://www.oecd.org/document/21/0,2340,en_2649_201185_35331797_1_1_1_1,00.html
Executive Summary
http://www.oecd.org/document/45/0,2340,en_2649_201185_35344877_1_1_1_1,00.html
Press Release, 16 September 2005
China could become worlds largest exporter by 2010
http://www.oecd.org/document/15/0,2340,en_2649_201185_35363023_1_1_1_1,00.html
16/09/2005 - China could overtake the US and Germany to become the largest exporter in the world in the next five years. By then, Chinese goods and services could represent as much as 10% of global trade compared with 6% at present, according to the OECD.
In its first Economic Survey of China, the OECD says the current pace of economic growth averaging more than 9% annually over the past two decades shows no sign of slowing. But although economic dynamism has helped reduce the number of Chinese living in absolute poverty, income levels are still low and inequality is on the rise, not only between the cities and rural regions average incomes in the countryside are only one third of those in the cities but also within the more prosperous coastal provinces.
To reduce the gap in incomes, the government should make it easier for people to move from the country to the cities, but urbanisation should be carefully managed, the survey says. Legal restrictions to migration will need to be reduced and land law reformed. The funding of different levels of government will also have to be adapted to meet the health and education needs of a growing urban population as local authorities responsibilities are not always matched by their ability to raise revenues. In addition, anti-pollution laws will need to be enforced more effectively.
As a result of profound shifts in government policies, the private sector is now driving Chinas remarkable economic growth. Well over half of Chinas GDP is produced by privately-controlled enterprises. But more needs to be done to improve the business environment, the survey says. For instance, the amount of capital required to start a company is relatively high. Priorities in this area should be to revise company law, pass a new bankruptcy code and provide stronger protection for property rights.
AND MORE...
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
[Please note: this is the first Economic Survey of China produced by the OECD]
OECD Policy Brief:
Economic Survey of China 2005 [16 September 2005]
http://www.oecd.org/dataoecd/10/25/35294862.pdf
[full-text, 8 pages]
See also-
Economic Survey of China 2005
http://www.oecd.org/document/21/0,2340,en_2649_201185_35331797_1_1_1_1,00.html
Executive Summary
http://www.oecd.org/document/45/0,2340,en_2649_201185_35344877_1_1_1_1,00.html
Press Release, 16 September 2005
China could become worlds largest exporter by 2010
http://www.oecd.org/document/15/0,2340,en_2649_201185_35363023_1_1_1_1,00.html
16/09/2005 - China could overtake the US and Germany to become the largest exporter in the world in the next five years. By then, Chinese goods and services could represent as much as 10% of global trade compared with 6% at present, according to the OECD.
In its first Economic Survey of China, the OECD says the current pace of economic growth averaging more than 9% annually over the past two decades shows no sign of slowing. But although economic dynamism has helped reduce the number of Chinese living in absolute poverty, income levels are still low and inequality is on the rise, not only between the cities and rural regions average incomes in the countryside are only one third of those in the cities but also within the more prosperous coastal provinces.
To reduce the gap in incomes, the government should make it easier for people to move from the country to the cities, but urbanisation should be carefully managed, the survey says. Legal restrictions to migration will need to be reduced and land law reformed. The funding of different levels of government will also have to be adapted to meet the health and education needs of a growing urban population as local authorities responsibilities are not always matched by their ability to raise revenues. In addition, anti-pollution laws will need to be enforced more effectively.
As a result of profound shifts in government policies, the private sector is now driving Chinas remarkable economic growth. Well over half of Chinas GDP is produced by privately-controlled enterprises. But more needs to be done to improve the business environment, the survey says. For instance, the amount of capital required to start a company is relatively high. Priorities in this area should be to revise company law, pass a new bankruptcy code and provide stronger protection for property rights.
AND MORE...
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 1:13 PM
