This paper deals with two related issues: the sustainability of China's exchange rate regime and the opening up of its … to avoid disruptive capital flows. The paper discusses China’s twin surpluses of the current and capital accounts and … the outlook for Chinese capital flows should barriers to capital movements be lifted. It argues that whether China …

China's rise has been the economic success story of the past four decades but economic growth has been slowing and … domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the … economic outlook and the potential impact of a transition to sustainable growth in China on the global and euro area economies …