China's Economy in Transition: From External to Internal Rebalancing

China's Economy in Transition: From External to Internal Rebalancing

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Chinaa€™s current account surplus has declined to around one-quarter the peak reached before the global financial crisis. While this is a major reduction in Chinaa€™s external imbalance, it has not been accompanied by a decisive shift toward consumption-based growth. Instead, the compression in its external surplus has been accomplished through increasing fixed investment so that it is now an even higher share of Chinaa€™s national economy. This increasing reliance on fixed investment as the main driver of Chinaa€™s growth raises questions about the durability of the compression in the external surplus and the sustainability of the current growth model that has had unprecedented success in lifting about 500 million people out of poverty over the last three decades. This volume examines various aspects of the rebalancing process underway in China, highlighting policy lessons for achieving stable, sustainable, and inclusive growth.Since then, he has worked in various departments, and his country assignments in Asia have included a wide range of ... Alla Myrvoda isa Research Analyst inthe IMFa#39;s Asia andPacific Department, covering China, Hong Kong SAR, andanbsp;...

Title:China's Economy in Transition: From External to Internal Rebalancing
Author: Mr. Anoop Singh, Mr. Malhar Nabar, Mr. Papa M N'Diaye
Publisher:International Monetary Fund - 2013-11-07

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