The major types of middle-income trap that threaten China / Wing Thye Woo -- A prediction of China's economy in 2012 / Gang Fan and Liping He -- The correction of China's twin surpluses / Yongding Yu -- The long-run growth and short-run fluctuations of the Chinese economy / Zhigang Yuan and...

This paper has two aims. The first is to reduce the range within which the true U.S.-China bilateral trade deficit lies. The second is to identify the determinants of the bilateral trade deficit, and offer an assessment of their relative importance. We calculate a smaller range of values for the...