Structural Adjustments in the Chinese Economy by Prof Bai Chong-En

Goh Keng Swee Lecture on Modern China
Topic
Structural Adjustments in the Chinese Economy
Speaker
Professor Bai Chong-En
Dean, School of Economics and Management, Tsinghua University
Date & Time:
Tuesday, 24 September 2024
10:30 am - 12 noon (Singapore Time)
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00:00:00
00:00:23
Introduction by
Ms Yuen Sin
Senior Associate Director, East Asian Institute, National University of Singapore
00:00:54
Welcome Address by
Dr Teh Kok Peng
Chairman, East Asian Institute, National University of Singapore
00:04:57
Lecture by Prof Bai Chong-En
1:17:07
Q & A moderated by
Prof Alfred Schipke
Director, East Asian Institute, National University of Singapore
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The Goh Keng Swee Lecture on Modern China series was inaugurated in 1997 to honour the founder of the East Asian Institute (EAI), Singapore’s former Deputy Prime Minister and Minister Goh Keng Swee. Dr Goh (6 October 1918 - 14 May 2010) was one of the founding fathers of the Singapore Republic, and an architect of its renowned financial and economic management. Dr Goh joined the first government of Prime Minister Lee Kuan Yew as Minister for Finance in 1959. Upon Singapore’s independence on 9 August 1965, Dr Goh became the nation’s first Minister for the Interior and Defence. He served as Finance Minister (1967-70), Minister for Defence (1970-79) and Minister for Education (1979-80, 1981-84). Dr Goh Keng Swee was the recipient of the Ramon Magsaysay Award for Government Services (1972) and conferred the Order of Sikatuna by the Philippine government. Following his retirement from politics, in 1985 Dr Goh was awarded the Darjah Utama Temasek (Order of Temasek), First Class, Singapore’s highest civilian honour. He was also made the first Distinguished Fellow of the Economic Development Board Society in 1991. Dr Goh received his PhD in Economics from the London School of Economics (LSE) in 1956.
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Abstract:
In 2013, it was for the first time emphasized that the Chinese economy faced the challenge to “simultaneously deal with the slowdown in economic growth, make difficult structural adjustments, and absorb the effects of previous economic stimulus policies.” Eleven years later, structural adjustments are still the sources of many challenges that the economy faces, although the scope and depth of the adjustments have changed. In addition to the adjustments in the economic sphere, the demand for modernization of national governance system and governance capacity is strong. This lecture attempts to shed light on the opportunities and challenges faced by the Chinese economy through the lens of these structural adjustments.
About the Speaker:
Professor Chong-En Bai is Dean of the School of Economics and Management and Distinguished Professor of Arts, Humanities and Social Sciences of Tsinghua University. He earned his PhD degree in Economics from Harvard University. His research focuses on the relationship between economic institutions, policy and development, particularly within the Chinese economy. Professor Bai is Vice-Chairman of the 13th All-China Federation of Industry and Commerce. He is a member of the National Committee of the Chinese People’s Political Consultative Conference, the “14th Five-Year Plan” National Development Planning Expert Committee, the Chinese Economists 50 Forum, the China Finance 40 Forum and Chinainfo 100. He is also Chairman of Academic Committee of China Wealth Management 50 Forum. He was a member of the monetary policy committee of the People’s Bank of China and the executive council of International Economic Association, a non-resident Senior Fellow of the Brookings Institution and Adjunct Vice-President of Beijing State-Owned Assets Management Co. Ltd.
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