After three decades of sizzling growth, China is now regarded by the World Bank as an upper-middle-income nation, and it’s on its way to being one of the world’s advanced economies. The investment-led growth model that underpinned this extraordinary progress has served China well. Yet some strains associated with that approach have become evident. China faces an important choice: whether to continue with its old model and raise the risk of a hard landing for the economy, or to shift gears. The report finds that a new approach centered on productivity could generate $5.6 trillion of additional GDP by 2030, compared with continuing the investment-led path. Household income could rise by $5.1 trillion. LINK