Asia Society Texas Center presents "Forecast Asia: China's Ambition Grows as the Global Economy Slows"
In China, the services sector has trumped manufacturing since 2011 and consumption has for the first time actually exceeded investment; China may be on the verge of becoming the consumer-led economy that the U.S. has long sought. Internationally, China saw record inbound and outbound investments and a record trade surplus with the U.S. ($260 billion) in 2013, and the yuan is growing in prominence as an international currency.
Economic reforms under Xi Jinping, particularly the Third Plenum reforms announced in 2013, constitute China's most ambitious reform plan yet and are already having an impact in some areas, though much remains unknown.
Can China resolve long-term problems like IP theft, an inefficient financial system that privileges SOEs, and endemic corruption problems? Even as China dominates the headlines, will the advanced economies of South Korea, Taiwan and Japan continue to be key drivers of economic growth and integration in the region?
Leading the discussion on these topics are Oral W. Dawe, Founder and Chief Executive Officer of Dawe Holding Pte, Nick Lardy, Senior Fellow at the Peterson Institute for International Economics, and Barry Naughton, Professor of Chinese Economy at UC San Diego. Martyn E. Goossen, President of JPMorgan Chase Bank – Houston Region, will moderate the program.