Home  |  News  |  Photo  |  Video   |  Travel  |  Learn Chinese  |  Opinions  |  EZFM  |  NEWS Plus  |  CHINA PLUS
Where are we now?
   2016-12-03 15:39:10    CRIENGLISH.com      Web Editor: Fei Fei

The new normal

What is it and why does it matter?

First let¡¯s start with the old normal:

Reforms in the late 1970s quickly made China a rapidly expanding economic powerhouse.


 Up to 2011, economic growth was equivalent to all the G7 countries combined.


 China was making lots of money.


 China¡¯s foreign exchange reserves reached a staggering 2.85 trillion US dollars.


 It soon became the 2nd largest economy in the world with growth rates at around 10%.


 It was an economic miracle.






As most resources and labor were cheap, China could easily sell its products around the world.

But then the world financial crisis suddenly cut off markets and investments.

The world stopped buying.

China  came to see that what happens in China affects the world.

It had a big responsibility.

A rethink was needed and the economy had to adapt.


Enter the new normal:

Growth had to come from INNOVATION.

Old inefficient industries would be replaced by new efficient innovative and competitive firms.

Demand would be stimulated by creating a moderately prosperous society.

Increased wages,

Healthy domestic demand,

And the lifting of millions out of poverty.


This is the new normal.

A slower growth rate in the short term and a more sustainable future, not just for China, but also for the whole world.

So where are we at right now? Stay tuned for a peek into how international entrepreneurs and business view the Chinese economy and have been cashing in on the challenges and opportunities offered by the new normal.

Which is fascinating and fun and brilliant and exciting.

CRI Interview with Former Australian Foreign Minister
At the 5th World Peace Forum, CRI had an exclusive interview with Bob Carr, Former Australian Foreign Minister.
Along the Silk Road: Haji Fida Hussain--Pakistani Export Tycoon
Pakistani businessman Haji is exporting Chinese goods all over the world.



CRIENGLISH.com claims the copyright of all material and information produced originally by our staff. No person, organization and/or company shall reproduce, disseminate or broadcast the content in any manner whatsoever without the express written permission of CRIENGLISH.com.

CRIENGLISH.com holds neither liability nor responsibility for materials attributed to any other source. Such information is provided as reportage and dissemination of information but does not necessarily reflect the opinion of or endorsement by CRI.

The Sound Stage
China Revealed
My Chinese Life
Photo Gallery
Learn Chinese
"In" Chinese
Chatting in Chinese
Pop Culture
Traditional Culture
Living Chinese
Chinese Studio
Chinese Class
Learn English
Special English
Pop Chart
Everyday English
Fabulous Snaps
CRI News
China.org.cn  | Xinhua  | People's Daily Online   |  CNTV.cn  | China Daily  |  Global Times  | China Job  |  China Tibet Online  | Taiwan.cn  | eBeijing  | Beijing Today  | China-Eurasia Expo  | APEC Yiwu Conference  | Chinese Embassy in S.Africa  | Chinese Embassy in Australia  | Chinese Embassy in NZ