China is poised to be the largest contributor to global growth in 2024, with an announced growth target of around 5 percent. As the world watches, attention turns to the drivers behind this ambitious target and the strategies that will support it.
In a collaborative effort, CGTN and the World Economic Forum gathered leading economists and experts to delve into China's economic realities, the challenges ahead, and the potential for high-quality growth. The panel included Aparna Bharadwaj, Managing Director and Partner at Boston Consulting Group; Keyu Jin, Professor of Economics at the London School of Economics and Political Science; Eswar Prasad, Professor at Cornell University; and Peng Sen, President of the China Society of Economic Reform.
The discussion centered on the necessity of both short-term economic stimulus and longer-term systematic approaches to revitalize growth prospects. The experts examined the headwinds facing China's economy, such as global uncertainties and domestic structural challenges, while highlighting opportunities for sustainable development.
Professor Keyu Jin emphasized the importance of innovation and technological advancement in driving future growth. "China's commitment to high-quality development relies on fostering innovation and expanding its global economic influence," she noted.
Eswar Prasad discussed the global implications of China's growth, stating, "China's economic trajectory has significant bearings on global markets and economies. Understanding its policy approaches is crucial for international stakeholders."
The panelists agreed that strategic measures are essential to ensure continued economic development, not only for China but for the global economy at large.
Reference(s):
cgtn.com
