China's old development model, which focused on high rates of GDP growth, has got to change. The economic growth engine which has gotten China to where it is now has also engendered a host of severe social problems, damaged the environment and led to a gross imbalance between investment and consumption.
As one of the world's major economies, it would be good for China to maintain an economic growth rate of around 7 percent annually until 2020. The country has reached a point of industrialization and urbanization where it can afford to focus on protecting the environment and addressing the social concerns which have arisen over the past three decades.
China must now emphasize quality and quantity when it comes to building its economy, and the government should make structural reforms to open the economy more to market forces.
Landmark building should respect the public's feeling
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