Rebalancing growth in favor of domestic consumption has been an objective of Chinese policy makers for over two decades. However, until recently little progress has been achieved. This article argues that the nature of the demand regime is a major reason for the limited rebalancing operated thus...

This article analyses the impact of the international crisis in Asia. We show that the main channel of contagion was trade and not finance. We then question the nature of the recovery which is getting steam since the spring of 2009 thanks to the success of the Chinese stimulus plan. This...