The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed.
Michael Pettis debunks the lingering bullish expectations for China’s economic rise and details Beijing’s options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.
Author: Michael Pettis
Manufacturer: Carnegie Endowment for Int'l Peace
Number of items: 1
Number of pages: 172
Product group: Book
Studio: Carnegie Endowment for Int'l Peace
Publication Date: 2013-09-24
Publisher: Carnegie Endowment for Int'l Peace