The major types of middle-income trap that threaten China / Wing Thye Woo -- A prediction of China's economy in 2012 / Gang Fan and Liping He -- The correction of China's twin surpluses / Yongding Yu -- The long-run growth and short-run fluctuations of the Chinese economy / Zhigang Yuan and...

Many economists have attributed China's high growth to the implementation of the correct sequence of reforms. We reject this interpretation because it does not characterize the reform process correctly; it does not recognize adequately the interaction between reforms that sustains the progress...