Over the last 3 decades, the product, labor, and capital markets of the People’s Republic of China have become gradually more integrated within its borders, though integration has been significantly slower for capital markets. There remains a significant urban-rural divide, and cities in the...

Over the last three decades, China's product, labor, and capital markets have become gradually more integrated within its borders, although integration has been significantly slower for capital markets. There remains a significant urban-rural divide, and Chinese cities tend to be under-sized by...