China's financial openness, as measured by cross border flows and asset ownership, peaked during its 2000s growth surge …, as did downward pressure on global interest rates and price levels. This was despite China's restriction of financial … shown that, without capital controls, most surge effects on China would have been moderated substantially while the global …

various monetary regimes, the paper shows that the contribution of China in global rebalancing should primarily rely on … structural policies aiming at reducing aggregate savings in China. The role of the exchange-rate regime would be minor under … today. Finally, relying only on a change in China's monetary regime (without structural reforms) could end up in delaying …

old joke goes, the rest of the world caught a cold. But that dominance is now being challenged by the rise of rapidly … outline the consequences of this evolving world economic order – in particular, how it is decoupling the business cycles of …

The BPCG model provides an interesting hypothesis regarding economic growth. The main implication is that world demand … consistently .nds an important role for the level of the real exchange rate and investment, independently of world demand growth. …