China: just lowered the growth target to 4.5% from the 5% go.

China’s Prospects…

Pessimistic

goals

• pre-2008 reforms completely stalled
• SOE too useful for party control and thus they will try to maintain control
• SOEs thus too useful for party control

Because the party starting from 2012 will try to maintain control, party more likely to cling levels of control than try to invocate.

leadership

misconceived priorities: they see SOEs as central 1) global leadership, 2) belt and road — diplomatic and strategic goals and 3) desire to make SOEs national champions

> You are asked to provide a brief overview for the hospital administrators regarding the ethics of using the technology. Your overview should include a brief description of your selected technology and an assessment of the potential ethical and social implications of applying that technology to pediatric care in your hospital. Students should apply a specific ethical framework in their discussion of whether to use the innovative technology(from the course readings) as part of their analysis, and give details regarding ethical implications and challenges of the technology. For example, students might discuss how different stakeholders may be impacted (e.g. patients, doctors, communities), any possible unintended consequences, as well as potential approaches for addressing the ethical issues, what mitigations you would recommend, or consider how the benefits of this technology would be shared equitably. While the approaches to the ethical issues will vary depending on the technology, one element that must be in the essay is consideration of what would need to be communicated to the parents/patients for informed consent.

• Interior Point Method
• barrier method

Interior Point Method

How’s China Doing?

• overall: china’s growth is slowing
• property:
  • despite government support, property prices still struggling
  • falling demand => tighter financing => unfinished projects
• prices are going down—deflation!?

Involution (Neijuan)

• Dropping household wealth => more cautious purchasing.
• Young unemployment rate still elevated

Major Challenges

1. demogratic change
2. changing the growth model: state sector restructuring seems to have stopped
3. shifting to more domestic demand driven by consumers
4. changes in financial system—how can banks avoid over-lending
5. changes in fiscal system (how to find sources of revenue)
6. reducing corporate debt, LGFV debt, etc.

options are not great

• older model has had diminshing returns
• exports and trade surplus may not last
• more limited access to technologies and foreign direct investment
• high debt levels requires many years of debt logistics
• changes to population structure / aging limits consumptino and savings (so increasing domestic demand is hard)
• any fast shift to new growth model will bring a bit of depression

New Direction

1. maintain: focus on investment driven by state industrial policy
2. shift: investment from housing sector to optimized manufacturing (high tech)
3. expand: manufacturing capacity overall—but efficiency
4. double-down: on exports even if tariffs

ambitious and a huge gamble