Publication

This brief examines China’s external and internal economic imbalances and the political obstacles hindering economic reform. The author argues that even though Chinese policy makers have long been aware of the dual imbalance between the country's exports and imports, and between its domestic investment and consumption, the absence of political reform blocks any successful economic reform that would deal with them. She also contends that President Xi Jinping and Premier Li Keqiang are unlikely to be much more successful than their predecessors in rebalancing China’s economy.