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Chinese financial institutions are now generally stronger and better regulated than a few years ago and the financial system is gradually opening up. However, further reforms are required.
Policymaking in China has put increasing emphasis on stemming the growth in inequality. New indicators suggest that overall inequality has ceased to increase recently, and may even have declined.
The Chinese labour market is resilient but segmented. The registration system and the attendant restrictions on access to social services impede labour mobility and ought to be gradually relaxed.
Competition is now robust in many sectors but product market barriers remain high overall, which may hold back growth over the longer run.
Progressing towards universal, safe, affordable and effective health care will require wide ranging reforms of hospitals, insurance systems, better trained staff and changes in some relative prices
The Chinese economy weathered the global crisis remarkably well. Some imbalances remain, but ongoing reforms can be expected to help alleviate them over time.
China’s monetary policy framework has gradually become more market-based. Going forward, it will need to place less emphasis on quantity-based liquidity controls and more on interest rate changes.
China’s population is set to age fast, owing to low fertility and rising life expectancy. With ongoing migration of the younger cohorts to urban areas the increase in the old-age dependency ratio will be more pronounced in rural than in urban areas. Very different pension arrangements exist across the country, with diverse and segmented systems in urban areas, belated retirement and low replacement ratios in rural areas, and special
With the help of massive government stimulus action, China is now leading the world economy out of recession, according to a new OECD report.
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The Millennium Declaration set 2015 as the target date for halving the number of people living in extreme poverty. This paper examines the role of the agricultural sector and looks at 25 developing countries who have posted extraordinary success in reducing extreme poverty.