Le rééquilibrage de la croissance chinoise: enjeux et perspectives
Benjamin Delozier and
Cyril Rebillard ()
Economie & Prévision, 2010, vol. n° 194, issue 3, 119-127
A gradual rebalancing of Chinese growth toward private consumption would promote global economic stability by helping to reduce global current-account imbalances. It would also serve Chinese interests. Demographic trends - the stabilization of the working-age population, the gradual decrease in internal migrations - should contribute to the rebalancing in the medium term, with labor shortages sustaining wages. However, structural reforms are needed as well. They include : improved redistribution of corporate earnings and gradual exchange-rate adjustment, to boost Chinese consumers? purchasing power ; improvement in social policies, to lower precautionary savings ; and expansion and liberalization of financial markets to make them accessible to households and small/medium-sized businesses.
Keywords: China; growth rebalancing; current account balance; private consumption; national savings (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_194_0119
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