China in 2030

This week, the World Bank issued “China in 2030,” a major report that calls for dramatic economic reforms to maintain China’s current rate of growth. In his opening remarks at the launch conference in Beijing on February 27, World Bank chief Robert Zoellick noted that China faces a number of challenges in the coming years, including a rapidly aging population, resource pressures, environmental issues, and rising inequality.

The report warns that China is at a “turning point in its development path,” and needs a new development strategy. It calls for six changes:

1.      Structural economic reforms

2.      Focus on innovation;

3.      Emphasis on “green” development

4.      Improve social security system;

5.      Strengthen the fiscal system; and

6.      Become a more active global stakeholder.

Full article: China in 2030 (The Diplomat)

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