Since the Tax Sharing Reform in 1994, the local government revenue of the People's Republic of China (PRC) has faced downward risk problems. This paper reviews the fiscal and taxation reforms in the central and local governments of the PRC and focuses on evaluating the effectiveness of fiscal...

China has become a major "fear factor" in the global economy: there is fear of its competitive pressure on global markets and on demand for resources, and there is fear of the consequences for global growth if its economy hits a serious speed bump. China is usually given pretty good marks for...

This book examines imbalances in seven major economies: China, France, Germany, India, Japan, the United Kingdom, and the United States, evaluating key indicators agreed on by the G20 for identifying large imbalances, including public and private debt and private saving, and countries' external...