This paper argues that the way in which China is portrayed in the revived Bretton Woods thesis (BW2) is not consistent with several important trends in, and features of, the Chinese economy; nor does the strategy in the BW2 seem sensible for China's long-term economic development. Whether it is...

To sum up, we are not arguing either that preliminary signs of a slowing of Chinese economic activity in recent months are unwelcome or that administrative controls have been counterproductive. Nor can we estimate with great precision the sustainable investment rate or the amount of overshooting...