CHINA’S ECONOMIC
GROWTH AND
REBALANCING
Format : PDF
The
sustainability of China’s economic growth is a key element of the global
outlook. There is
a
widespread consensus, including in China, that the producer-biased growth model
which still
prevails
in the country is unsustainable in
the long run. While the jury is out as to the time
frame,
it
is widely acknowledged that a failure to implement more ambitious economic
reforms would
involve
a tail-risk scenario of sluggish output performance, widespread corporate
defaults, systemic
banking
sector stress and social unrest.
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