THE RESTRUCTURING OF CHINESE MANUFACTURING: IMPERATIVES, STRATEGIES AND CHALLENGES

In recent years, China has engaged in a complex economic rebalancing process, which includes three large and interrelated categories of reform packages: reforms addressed to rebalancing demand, to restructure supply and to geographically balance the country’s development. As part of the supply-side restructuring endeavour, the reform of manufacturing is an unavoidable component of the transformation that the Chinese economy will undergo up to the half of the current century. On its depth and magnitude will depend both the success of China’s transition to the status of a developed economy, and the health, balance and well-functioning of world markets and the world economy as a whole. This article demonstrates the importance of reforming Chinese manufacturing, it delineates its current landscape alongside its major issues, and looks at China’s new industrial strategy, with its distinctiveness, aims and challenges ahead