Chinese Economy: Challenges in 2018
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We interviewed some former Nobel Prize winners in economics on the challenges facing the Chinese economy, take a listen.
ERIC S. MASKIN WINNER OF 2007 NOBEL PRIZE IN ECONOMICS "Because as we were discussing, about 20 percent of the economy is still in basically unproductive work, rural agriculture. They need to be redirected to more useful activities. (What types of solutions we should do?) Relaxing immigration restrictions and also providing job training."
LARS PETER HANSEN WINNER OF 2013 NOBEL PRIZE IN ECONOMICS "So the Chinese growth I think will probably continue, roughly speaking, what has been the last year or two, that I kind of believe. I see the biggest challenges going forward is how to get financing into the most productive components of the economy, where the best innovation might take place. For me, I think all indications I have seen is that productivity in the state-owned sector has not been very high, outside of it it's been considerably higher. It's hard to figure out how to finance new ideas and new ventures outside the state-owned sector. That's why I see this as a challenge, see growth in the future maintained and perhaps even enhanced."