Economists have warned that China has a choice between a short-term growth economy and one that grows sustainably.
Commentators will be watching closely as government officials, academics and multi-national business leaders from 90 countries across Asia meet at the Summer Davos Forum in Dalian on Wednesday to discuss solutions to global issues and risks.
Writing in the Financial Times, China’s premier Li Keqiang said, “[The Chinese] economy will maintain its sustained and healthy growth and China will stay on the path of reform and opening up”, stimulated by an economic-slowdown.
He added, “We can no longer afford to continue with the old model of high consumption and high investment. Instead, we must take a holistic approach in pursuing steady growth, structural readjustment and further reform.”
State economist Fan Jianping criticised the Chinese government’s inconsistencies in setting rates of annual growth, saying, “Why should the target be changed every year? It shouldn’t happen.”
Fan predicts the Chinese will pitch growth rates in between 7-8%, which is in line with the five-year plan for economic growth.
Li said that by cutting growth rates, the government, business leaders and society could work together to tackle the “fundamental problems” that could hinder sustainable growth, such as economic infrastructure, insisting that “reform remains the driving force” to economic growth.
China’s economy has been blasted as unsustainable in recent years due to the carbon emitted from its energy sector, though countries such as the US emit more per capita. The Chinese State Council recently announced however that it would be tackling this issue head on, making energy efficiency a“pillar” of its economy.
Like our Facebook Page
Cultivating an Environmentally-Friendly Home
Eco-Friendly Healthcare: Five Steps for a More Sustainable Medical Practice
Embracing Profit and Long-Term Sustainability: An Undeniably Green Future
4 Eco-Friendly Tips to Maximize the Fuel Efficiency of Diesel Generators
How Your Business Can Create a More Sustainable Supply Chain
There is no Planet B: The Growing Importance of ESG
How Municipalities Can Become More Energy Efficient
The 10 Best Eco-Friendly Destinations to Visit in France
5 Incredibly Simple Ways to Make Money Streaming Eco-Friendly Content
5 Great Ways to Have a More Eco-Friendly Wedding This Year
Greta Thunberg: a True Advocate for Environmental and Women’s Rights
The Vegan Revolution: Rise of The Plant-Based Business
Here’s Why Solar Power Demand Has Accelerated Sharply
Africa Must Capitalize on Growing Interest in Sustainable Investments
Creating an Eco-Friendly Garden that is Free of Pests
How to Make Your Ecommerce Business More Eco-Friendly?
Luxury Development for The Ultra-Rich Causing Climate Change Conundrum in Barbuda
How Can Social Media Help In Promoting Sustainable Lifestyle?
4 Electric Car Maintenance Tips to Slash Your Carbon Footprint
3 Things Sustainable Companies Do for ‘Green’ Construction
- Features9 months ago
Eco-Friendly Interior Design Is Easier Than You Might Think
- Features7 months ago
Eco-Friendly Hacks To Create A Durable Shop For Your Home
- Features7 months ago
5 Simple Ways To Create A Greener And Healthier Home
- Environment10 months ago
The Benefits Of Sustainable Agriculture For Farmers