Asian Affairs An American Review · 2007 · 11 citations · 0 references
Social SciencesEconomic Development PlanningEconomicsDevelopment EconomicsEconomic DevelopmentInternational TradeDevelopment Policy AnalysisDevelopment StrategyEconomic GrowthInternational Growth StrategyRegional Economic DevelopmentResource DepletionChinese EconomyEconomic Development StrategyEconomic Growth StrategyEconomic PlanningForeign Exchange Reserve AccumulationInternational Development PolicySustainable Economic GrowthTrade Volume Analysis
In the last five years, China's economy has made great strides. Its annual gross domestic product growth rate averaged 9.4 percent and in the past three years (2003-5) exceeded 10 percent a year. Foreign trade volume has tripled and the foreign exchange reserve exceeded $1 trillion, ranking first in the world. The robust growth, however, has brought concomitant woes such as growing income disparaties, rapid depletion of natural resources, and severe ecological deterioration. The Eleventh Five-Year Plan aims to rectify these shortcomings. This article highlights the key agenda of the new development plan and evaluates the prospect of China's economic and social development in the coming decades.