Tipping the Scales—Rebalancing Growth in Asia

The center of global economic growth is moving from the West to Asia. Over the last 30 years, the Asian economy has grown by over 7 percent each year, doubling in size every decade. This success has been based in large part on outward-oriented growth strategies. But, there is growing awareness that Asia’s export-led growth needs to be balanced by a second engine of growth. How to achieve this rebalancing is a key theme of a new book from the IMF, launched in Hong Kong, on Rebalancing Growth in Asia—Economic Dimensions for China.