12:00-1:00PM
1855 West Mall, C.K. Choi Building Conference Room #120
Why has China grown so fast for so long?
Prospects for the future
By Khalid Malik
UN Resident Coordinator
UNDP Resident Representative
China
In a single generation, the world’s most populous nation has undergone one of the most dramatic and most dramatically successful transformations the world has ever seen. As high growth and steady reform continue unabated, China is not only reinventing itself but fundamentally altering political and economic relationships across the globe.
Yet right from the start of reforms, most international economic observers harbored profound skepticism towards China’s unorthodox path and expected it to fail disastrously. Curiously, this disbelief has persisted through decades of stellar growth, moderated only recently by the increasingly obvious fact that we are witnessing the greatest sustained economic expansion in human history. But economists over the world still struggle to understand just how the Chinese bumblebee has been able to defy the laws of economic gravity in such a conspicuous way.
This lecture will argue that the problem is inherent in traditional economic theory, which is by construction incapable of capturing the process that has taken place and thus fundamentally insufficient to provide us with the full explanation. Instead, there is a need for a more holistic understanding of the underlying social transformation necessary for growth to take hold in developing economies.
Outlining a different interpretation of China’s reform process and its success factors, Mr. Malik will provide some generalized lessons useful for other countries as well as a look into the future prospects of the Chinese economic endeavour.
Mr. Khalid Malik is a development practitioner with extensive leadership and management experience. Educated as an economist at the universities of Oxford, Cambridge, Essex and Punjab, he has held a variety of key managerial, technical and policy positions in UN/UNDP both in the field and at headquarters.
Mr. Malik is currently serving as the UN Resident Coordinator and UNDP Resident Representative in China (since August 2003).
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