Where now for China's growth model?

With another CCP Party Conference in Beijing, there is an interesting debate underway about the challenges facing China's growth model during the next five-year plan. Strong economic growth in China has been based on huge government-backed infrastructure investment - not all of it worthwhile - and massive increases in the utilisation of factor inputs.

But consumer demand and technological innovation are weak. Logan at Survived SARS points us to a China Daily piece, Leadership to adjust growth model, which outlines the key issues. He also cites more compelling China facts:

China's consumption of natural resources is alarming: its gross domestic product accounts for 4 per cent of the world, while its consumption of water accounts for 15 per cent of the world, steel for 28 per cent and cement for 50 per cent.

Half the world's cement consumption. Should we be amazed, or dismayed?
 

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