A new wave of modernization of manufacturing system, a new role of the country in the global value chain: Chinese economists’ remarks on post-crisis strategies

The government’s plan to stimulate domestic demand and boost economic growth provided China with tools to face the serious impact of the international crisis. The proactive fiscal measures and the easier monetary policy adopted by the government in 2009, however, risked weakening Wen Jiabao’s project to transform the current economic growth pattern which is excessively reliant on investment and exports of low price, low added-value goods. To support the goal of transforming China from a “large industrial country” to a “powerful industrial country”, the government has issued some plans for restructuring the manufacturing system and selecting some efficient players which would lead economic growth along new lines