The World Bank and Development Research Center of China’s State Council released their new study on the future of China’s economy and society
Called China 2030: Building a Modern, Harmonious, and Creative High-Income Society”
The document says it shows how the People’s Republic can deal with its rising middle class, an old and troubling approach to opening industry to normal competition instead of the current shelter given to China’s largest companies, income inequality, and environmental problems. It also addresses what may be China’s largest problem. Trade imbalances with unhappy partners which are some of the world’s largest nations.
“China’s leaders have recognized that the country’s growth model, which has been so successful for the past 30 years, will need to be changed to accommodate new challenges,” said World Bank Group President Robert B. Zoellick.
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