“The future of China’s economy' by Bert Hofman

Mr Bert Hofman, the World Bank's Country Director for China, Korea and Mongolia in the East Asia and Pacific Region, will look at the future of China's economy.

Mr Bert Hofman is the World Bank's Country Director for China, Korea and Mongolia in the East Asia and Pacific Region, based in Beijing.

Prior to his present assignment, Mr Hofman was the World Bank's Chief Economist for the East Asia and Pacific Region and Director, Singapore Office. As regional chief economist he led a team to analyse key trends and policy issues across East Asia and the Pacific and as Director Singapore he helped build a partnership that focuses on expanding investment in infrastructure in emerging economies.

Before moving to Singapore in 2011, Mr Hofman was the Country Director for the Philippines, responsible for a growing portfolio of projects and advisory services to the Philippines government.

Mr Hofman has accumulated more than 22 years of experience in the World Bank, 16 of which in the East Asia region. Among others, Mr Hofman was Lead Economist for China and for Indonesia and country economist for Mongolia and Namibia. He had also worked on Brazil, South Africa, Mongolia, Zambia, and Namibia in his earlier years with the Bank.

Prior to joining the World Bank, Mr Hofman worked at the Kiel Institute of World Economics in Germany, the Organization for Economic Cooperation and Development (OECD) in Paris, and NMB Bank in the Netherlands (now ING).

Mr Hofman holds a degree in economics from the Erasmus University Rotterdam and studied at the Christian Albrechts University, Kiel.

Oxford Martin School,
University of Oxford

[NoreenHoltzen]

Given where they come from in 1950 their system has done more good for their citizens (and far less murder to citizens outside their borders versus our own US record) compared to the most comparable democracies achieved such as India and Indonesia which had similar, and even slightly better, initial conditions in 1950. The CPC dynamic system has worked better for their public than democracy or our plutocracy, given their initial conditions. Literacy from 10% to 99%, average life span from 45 in 1950 to over 75 today in China. Extremely more lives saved than any lost, and only two wars outside their borders versus 100 or so that we have conducted.

[richardzhao]

CCP' definition of democracy is very different than most people understanding. Western economists rarely understand how the political system runs in CCP China.

[LPHe-jwib]

He took like 40 seconds talking about how it's China's fault to missing out on industrial revolution, and the trying and the fail; then for about 5 seconds on "yeah, we kind of invaded them". remembering a western world history textbook, the author talked on and on how it's the Africans' own fault that they got slaved by the white people. they fight among themselves, they sell on each other, etc .... and then like one paragraph on "yeah, we did some awful thing". The similarity is ...

[explore]

China haven't practice fair society, with poverty, authoritative society for very long time. It takes very long time for Chinese behave morally and ethical conscience civilized social behavioral people instead of voracious, vicious, skimming, stealing, sneakiness, greediness.

[notyourechochamber]

Speech was good, but a little too PC for me. Time to start learning mandarin!

[冷饭君]

perfect!A smart peopel, your prediction words fit to the situation now in china.

[alexoolau]

At end of the day, economy is trade of goods and service with money changing hands.

If Gov creates pension system like social security for every citizen, people are more likely to spend their money and increase internal demand to keep economy going further.

Passive saving is not good for economy. Gov should increase inflation to stimulate people spending their money and speed up economic activities.

[reesespeanut]

uugh...i hate seeing "taiwan, china." at least use taiwan, roc.