China has enjoyed a higher growth rate for a longer period than any other nation to date. This volume brings together leading economists to analyse this unprecedented economic boom, and discuss prospects for the future. Chapters address a wide range of issues, covering not only financial systems, but also the social and cultural impact of growth.

A comprehensive analysis of China's economic rise and prospects for the future, questioning whether current levels of growth are sustainable

Introduction PART I: FITOUSSI LECTURE Economics and China's Economic Rise; J.Wu PART II: PERSPECTIVES OF THE CHINESE ECONOMY China's Investment and GDP Growth Boom: When and How will it End? D.Perkins Six Systemic Reforms with which China must press ahead; J.Lou When Demographic Dividend Disappears: Growth Sustainability of China; F.Cai & W.Zhao PART III: LABOR MARKET, SOCIAL INSURANCE AND DEMOGRAPHIC CHANGE Adjusting to Really Big Changes: The Labour Market in China, 1989-2009; W.Chi , R.Freeman & H.Li Social Insurance and Household Consumption in China; C.Bai & B.Wu Population Aging and Economic Growth in China; J.Banister , D.Bloom & L.Rosenberg Health, Education and China's Demographic Transition Since 1950; K.Eggleston PART IV: BANKING AND CORPORATE GOVERNANCE The Initial Public Offering of the Industrial and Commercial Bank of China (ICBC); F.Allen , D.Huang , J.Qian & M.Zhao PART V: ENVIRONMENTAL POLICY An Integrated Assessment of the Economic Costs and Environmental Benefits ofPollution and Carbon Control; J.Cao , M.Ho & D.Jorgenson PART VI: INSTITUTIONS IN CHINA'S DEVELOPMENT Institutional Foundations of China's Structural Problems; C.Xu Political Competition at a Multilayer Hierarchy: Evidence from China; C.Liu , X.Li , X.Weng & L.Zhou.