China is poised on the brink of a transition to a service-based economy. The Japanese experience of the 1980s provides … for China. However, with the benefit of analyzing the Japanese experience and, given the important differences between the … two economies, China should be able to successfully rebalance its growth pattern while avoiding the downsides encountered …

relative rise of the U.S. savings rate is helping narrow global imbalances. But with a likely earlier recovery in the U …

that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private … existing trends continue, valuable resources could be wasted at a time when China’s ability to finance investment is facing … to that in manufacturing and real estate. Financial reform would facilitate such a reorientation, helping China to …

Consumption in China is unusually low and has continued to decline as a share of GDP over the past decade. A key policy …