China 2049

China is on track to be the world's next economic superpower, but it faces tremendous challenges, including a need to foster innovation, a rapidly aging population, and a global environment skeptical of a more powerful People's Republic.This book is the result of a collaborative effort among economists from China's Peking University and the Brookings Institution. It offers in-depth analyses of these challenges and explores a number of essential questions. Does China have enough talent and the right policy and institutional mix to transition from an input-driven to innovation-driven economy?What does an aging population mean for the country in terms of labor supply, consumption demand, and social welfare expenditures? Can China contain environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control?The contributors also consider the roles state-owned enterprises play in the future Chinese economy, how technological competition between the United States and China will affect each country's development, China's future role in the international monetary system, and whether the United States and other established powers will accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund.China 2049 provides unique insights and independent analyses and policy recommendations from a group of top Chinese and U.S. scholars. Whether China succeeds or fails in economic reform as it moves toward the 100th anniversary of the Chinese Communist Revolution will have a large impact on not only China's development, but also the stability and prosperity of the whole world.