Book Discussion Event

Rebalancing Growth in Asia
Economic Dimensions for China

Wednesday, March 9, 2011

The book, "Rebalancing Growth in Asia: Economic Dimensions for China", edited by Vivek Arora and Roberto Cardarelli of the Asia and Pacific Department at the IMF compiles a series of essays by different authors on the challenges of rebalancing Asia’s economies toward domestic demand-driven growth. The book first discusses some general themes in Asia’s rebalancing, and then looks specifically at challenges for China.

The Book will be launched at Carnegie Endowment with a 5-person panel.

About the Book

This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a rebalancing would entail. The nature of the challenge differs across regional economies, as some, like China, need to raise private consumption while others, like the ASEAN economies, need to raise investment. Given that China accounts for such a large part of the Asian economy, and that its story is such a central focus in the global policy debate, the book discusses various aspects of the rebalancing challenge in China.

Opening Remarks

Rebalancing Growth in Asia – Economic Dimensions for China
Remarks by Min Zhu, Special Advisor to the IMF Managing Director, IMF

Moderator

Doug Paal, Vice President for Studies, Carnegie Endowement

Douglas H. Paal is vice president for studies at the Carnegie Endowment for International Peace. He previously served as vice chairman of JPMorgan Chase International (2006–2008), and as unofficial U.S. representative to Taiwan as director of the American Institute in Taiwan (2002–2006). He was on the National Security Council staffs of Presidents Reagan and George H. W. Bush between 1986 and 1993 as director of Asian Affairs, and then as senior director and special assistant to the President. Paal held positions in the policy planning staff at the State Department, as a senior analyst for the CIA, and at U.S. Embassies in Singapore and Beijing. He has spoken and published frequently on Asian affairs and national security issues. He studied at Brown and Harvard Universities.

Panelists

Min Zhu, Special Advisor to the Managing Director, IMF

Mr. Min ZHU assumed the position of Special Advisor to the Managing Director of the International Monetary Fund on May 3, 2010. Mr. Zhu, a native of China, was a Deputy Governor of the People’s Bank of China. He was responsible for international affairs, policy research, and credit information. Prior to his service at China’s central bank, he held various positions at the Bank of China where he served as Group Executive Vice president, responsible for finance and treasury, risk management, internal control, legal and compliance, and strategy and research. Mr. Zhu also worked at the World Bank and taught economics at both Johns Hopkins University and Fudan University. Mr. Zhu received a Ph.D and an M.A. in economics from Johns Hopkins University, an M.P.A. from the Woodrow Wilson School of Public and International Affairs at Princeton University, and a B.A. in economics from Fudan University.

Vivek Arora, Assistant Director, Asia and Pacific Department

Vivek Arora is an Assistant Director in the IMF’s Asia and Pacific Department where he reviews the department’s regional research and leads the country team on the Philippines. Mr. Arora joined the IMF in 1992. His country assignments have included China, the United States, Canada, Korea, South Africa, and others. He served as the IMF’s senior resident representative in Beijing, China from 2006 to 2010. He has a Ph.D. in economics from Brown University and received his undergraduate education at St. Stephen’s College, Delhi.

Nicholas R. Lardy, Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics

He joined the Institute in March 2003 from the Brookings Institution, where he was a senior fellow in the Foreign Policy Studies Program from 1995 until 2003 and served as interim director of Foreign Policy Studies in 2001. Before Brookings, he served at the University of Washington, where he was the director of the Henry M. Jackson School of International Studies from 1991 to 1995. From 1997 through the spring of 2000, he was also the Frederick Frank Adjunct Professor of International Trade and Finance at the Yale University School of Management. He is an expert on Asia, especially the Chinese economy. Before his directorship, Lardy had been a professor of international studies at the University of Washington since 1985 and an associate professor from 1983 to 1985. He served as chair of the China Program from 1984 to 1989. He was an assistant and associate professor of economics at Yale University from 1975 to 1983. Lardy has written numerous articles and books on the Chinese economy, including The Future of China's Exchange Rate Policy (2009), China's Rise: Challenges and Opportunities (2008), etc. Lardy is a member of the Council on Foreign Relations and is a member of the editorial boards of the China Quarterly, Journal of Asian Business,China Review, and China Economic Review. He received his BA from the University of Wisconsin in 1968 and his PhD from the University of Michigan in 1975, both in economics.

Pieter Bottelier , Nonresident scholar in Carnegie’s International Economics Program and senior adjunct professor of China studies at the School of Advanced International Studies (SAIS), the Johns Hopkins University.

His work currently focuses on China’s economic reform and development. He also taught at Harvard’s Kennedy School of Government (2001–2003) and Georgetown University (2004). Bottelier served in several capacities at the World Bank from 1970 to 1998. During the Asian financial crisis (1997–1998) he was senior adviser to the vice president for East Asia. Other positions included: chief of the World Bank’s resident mission in Beijing (1993–1997); director for Latin America (1987–1992); director for North Africa (1992–1993); division chief for Mexico (1982–1987); resident chief economist in Jakarta, Indonesia (1979–1983); and desk economist for various East and West African countries (1970–1979). Bottelier has authored many articles and book chapters on China’s economy. He also serves as an adviser on China to the Conference Board, an independent membership organization that conducts and disseminates research on management and the marketplace.

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