Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...

This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored. -- aggregate...

Since the inception of economic reforms, China has experienced the largest increase in income inequality of all countries with comparable data. Using household survey information, this paper decomposes the overall inequality into three sectoral components - within rural areas, within urban...