The task of economic rebalancing is likely to demand much of the new Xi Jinping–Li Keqiang administration's energy and attention. Rebalancing entails implementation of large changes to fundamental economic policies, such as removing lingering price controls and opening up the closed financial...

China faces major challenges in sustaining its economic growth in a period of weak global recovery, particularly in Europe. In 2009 China's net exports of goods and services dropped precipitously, resulting in a substantial drag on economic growth. To overcome this drag China launched a massive...

The Chinese banking system has improved significantly over the past decade, but in one critical respect, it appears to have regressed. The People's Bank of China controls interest rates in a way that has led to significant financial repression--low and now negative real return on deposits--as...

China's decision to transition away from growth driven by investment and a growing global trade surplus toward one more dependent on domestic consumption is laudable. But to date China's initiatives have been too modest to change its underlying growth dynamic. China's external surplus continues...

Rarely has the outlook for the Chinese economy been so contested. Th e fi nancial press widely quotes three alternative perspectives on the short- and medium-term outlook. One school argues that the Chinese government's recent eff orts to rein in overly rapid growth are working and that the...

China's rise as an economic power in the last quarter century has posed a range of challenges for the rest of the world, especially in the aftermath of the global financial crisis of 2007–09. To elucidate the issues and deepen understanding between China and the United States, the Peterson...