Tuesday, December 1, 2015
  1. China’s Twin Challenges

    Adair Turner

    China’s Twin Challenges


     is losing confidence that the country's leaders will manage the debt dilemma they face.

    Shanghai skyline at night

    This month’s monetary-policy statement from the People’s Bank of China contained a striking statement: “If endogenous momentum is inadequate and returns on investment low, growth must rely on debt to a great extent.” Those words highlight the twin challenges – real and financial – the Chinese economy now confronts. READ MORE

  2. The Trouble With Interest Rates

    J. Bradford DeLong
  3. China’s Latest Five-Year Plan

    Martin Feldstein

    China’s Latest Five-Year Plan


     asks whether the target of 6.5% average annual growth can be met.

    Shanghai skyline at night

    Last month, the Chinese government released a preliminary summary of its 13th Five-Year Plan. While this is an important document for understanding where China is headed in the 2016-2020 period, China’s five-year plans just aren’t what they used to be. READ MORE

  4. China’s Macro Disconnect

    Stephen S. Roach

    China’s Macro Disconnect


     asks why consumer spending is growing at a glacial pace, even as services surge.

    Kiosk salesman in China

    China has been highly successful in transforming the industrial structure of its economy from manufacturing to services, but it has made far less progress in boosting private consumption. The country now has no choice but to address the causes of households' high precautionary saving and low discretionary spending. READ MORE

  5. The Trouble with International Policy Coordination

    Jeffrey Frankel

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