China's next magic number

In the latest IPmonopolet magazine, Yang Jiang discusses what should replace 8% annual GDP growth as the ‘magic number’ to ensure China’s prosperity and stability. While the Chinese state has recognized that it can no longer rely on GDP growth alone for legitimacy, no clear measurement has been highlighted as the new policy goal. This article explores several candidates, including a lower GDP growth target, employment rate, cost of everyday life, environment, as well as happiness, as alternative goals for the ‘China dream’.

Yang Jiang is Senior Researcher at DIIS. Her work on China’s political economy has appeared in journals Review of International Political Economy, The Pacific Review, Journal of Contemporary China, amongst others. Her recent book China’s Policymaking for Regional Economic Cooperation is published by Palgrave Macmillan in 2013.