Summary of Charles Goodhart & Manoj Pradhan's The Great Demographic Reversal

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#1 China’s contribution to global disinflation of the last 35 years and its coming reversal needs to be understood through the lens of history and an understanding of its growth model in the global context.

#2 China’s ascent can be traced back to three events and periods. The first was reforms to agriculture in 1978, which led to the creation of special economic zones where foreign investment was allowed. In the second phase, privatisation of state-owned enterprises began in 1992.

#3 China’s economy grew greatly between the time it gained WTO membership and the global financial crisis, and it was able to use that growth to its advantage. It became a superpower in the world economy, and its position was cemented after the global financial crisis.

#4 China’s aggressive response to the Great Financial Crisis was a major factor in preventing the collapse of the global economy. China’s credit growth surged in the early 90s and after the Great Financial Crisis, and was a major factor in buoying global growth, commodity prices, and emerging market economies.

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E-book: 21 kwietnia 2022