Hong Yinxing, Economic Professor of Nanjing University.
In the past thirty years, China has sustained a rapid economic growth from a low-income country to a middle-income country. This monograph begins with explaining China’s recent development from the perspectives of industrialization and urbanization (both with Chinese characteristics), and the thoughts of building China into an overall well-off society. However, upon the entrance of the middle-income stage, China is faced with various new challenges, including the sustainability of economic development, “the Middle-Income Trap”, a widening income gap and the economic globalization. To solve these problems, the monograph predicts the development path and future trend of Chinese economy, with a special attention to the modernization path and the transformation of an economic development model with Chinese characteristics.
