China Talks: Richard Herd

How long can China's economy continue to grow rapidly? Demographic and environmental challenges

China's economy is transforming rapidly, and faces a number of massive demographic and environmental challenges. But how can the economic changes best be understood, and what reforms will be necessary for ensuring a continued success in economic development?

On April 30, 2014, the University of Copenhagen is visited by Richard Herd, the recently retired Chief China Analyst of the OECD. Mr Herd is the author of numerous reports on the Chinese economy, and has vast knowledge of a range of issues pertaining to the country's economic development and the challenges it faces. Among recent reports he has authored is the 2013 OECD Economic Survey of China.

Introduction by Professor Emeritus Niels Thygesen, University of Copenhagen

Time: April 30, 14:15-16:00

Place: CSS 1.1.18

Abstract: China’s economy has evolved very rapidly over the past 30 years. There have been few cases of such a rapid transformation of an economy. The change is even more surprising in that it has involved the complete transformation of an economic system.

Macroeconomic analysis can explain some of the change through growth accounting, but a large part of the transformation has depended on a massive movement of population that has only a limited number of precedents in economic history. The transformation of the economy still has a long way to run. It is going to require a significant set of reforms if the process is going to reach a successful conclusion.   

About the speaker: Richard Herd is currently a consultant economist with a number of clients amongst Chinese government agencies. He also remains a consultant for his former employer – the OECD where he is current working on a project dealing with inclusive growth. 

For the ten years prior to his retirement in February 2014, Richard Herd had been the Chief China Economist at the OECD. Prior to January 2013, he was also responsible for India. He has been in charge of economic analysis of these two countries producing regular bi-annual forecasts and policy recommendations. He led the teams that produced the first OECD Economic Surveys of these two economies, as well as the first Survey for Korea. He as now produced three surveys for China and two for India.

In addition, he worked in a number of other positions at the OECD including fiscal anlaysis where he pioneered estimates of the implicit pension debt of countries. He has also produced Economic Surveys for Japan and the United States. Prior to working at the OECD, he worked at the Foreign Office and the Bank of England in London.

The lecture is open to all, but seating is limited, so registration is required. It is part of the series "China Talks", which have been launched under Asian Dynamics Initiative.