China has been growing at high rates during the previous three decades. The current process of rebalancing from an … historical developments in Japan and South Korea. We derive plausible scenarios for future growth rates in China and (by … rates. We show that China's current state of structural change in terms of sectoral employment shares is similar to the …

Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the … over a single generation. China now seems poised to follow a similar trajectory. All three cases highlight the importance …