The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.
- ISBN13 9780870034077
- Publish Date 24 September 2013 (first published 1 January 2013)
- Publish Status Active
- Publish Country US
- Publisher Brookings Institution
- Imprint Carnegie Endowment for International Peace
- Format Paperback
- Pages 260
- Language English