China’s second round of urbanization is likely to be one its best new growth engines during the next decade, Citi believes.
Oscar Choi and Marco Sze of Citi point out that further urbanization will likely play a central role in exploiting the opportunities for rebalancing China’s economy and sustaining the next stage of growth.
Secret behind China’s past growth
Citi analysts point out that China’s economic transformation in the past was largely driven by robust exports and aggressive fixed asset investment. China joining the WTO in 2000 catalyzed globalization of its manufacturing base.
The Citi analysts believe 2000-2010 was the golden period for China’s manufacturing and export businesses, pushing China to the number 1...
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