2. China's Consumption Transition: The Chinese leadership has said China will become a consumption-led economy. Assume this means the Chinese leadership believes Chinese consumption will increase in the short run, in the long run, and in the very long run. Analyze the effects on the Chinese economy of an increase in consumption in the short run, the long run, and the very long run using any and all appropriate models we have studied this term. Use all appropriate mathematics, graphs, and economic reasoning in your answer.

Please typeall your answer including mathematics and graph