rebalancing of domestic demand in China. …This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While … patterns of structural transformation across China's provinces are broadly in line with international experience, one important …

This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China …. It finds that, in many ways, inequality may have been an inevitable by-product of China’s investment and export …. Across China’s provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public …

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 …

The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting …

the ongoing rebalancing of euro area “deficit economies†(Greece, Ireland, Portugal, and Spain) that accumulated large … surplus. Internal rebalancing has come with subdued activity—notably very high unemployment in the deficit economiesâ …€”and made continued adjustment more difficult. To advance rebalancing further, the paper emphasizes the need for: (1 …