Towardsglobalconvergenceguangzhou03.pptxVIP

Towards global convergence: Asian dynamism and the elusive quest for western growth from the Fordist to the financial crisis and after;1 Regulation theoretic conceptualisations;Conceptual foundations;2 Comparative economic performance (经济发展比较研究);Global GDP and population 2011;Gong ye da ge ming de kuo san;Economic performance 1960-11;Economic and political reform and East European transition;From new American century;… to a turning point in global development;3 Elusive quest (难以实现的追求) for western growth;Elusive quest for western growth;A housing bubble and unearned wealth in an unequal society: US household income stagnates, interest rates cut, asset bubble, unearned income, savings rate declines, credit-driven and consumption-led growth;due to social inequality;Household debt as a share of disposable income;4 Financial crisis and Deleverage;Financial crisis in western world;5 Debt Crisis and recession;Debt crisis;Government support packages for the financial sector in United States, United Kingdom and Eurozone;Government budget deficits (政府预算赤字) as % GDP in 2009: explode in developed world;Projected 2010 advanced economies’ gross debt-GDP ratios;Advanced versus emerging G20 nation debt-GDP ratios (债务占GDP的比例) in 2010 (IMF);IMF estimates of fiscal consolidation required to achieve debt target between 2010 and 2020 (reduce 政府开支);Fast growth and inflation reduce debt ratio;6 EURO ZONE CRISIS;No fiscal integration;Regional disparities inGDP per head at PPP in 2002 (EU27=100);EU trade imbalances;Euro zone crisis;7 Keynesian interpretations;Keynesian interpretations?;James Meade and public assets;Savings and transition;Fixed investment in China and US 2006-8;Keynes and socialisation of investment;8 Chinese (AND ASIAN) growth;Chinese economic growth 1952-2011;China’s trade surplus and reserves;9 RURAL-urban transition and growth of domestic market;Agriculture10% of GDP37% of jobs;due to rural-urban inequality (income per capita);43;Concentrated Zones of Poverty with Spe