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Employment Effects of Growth Rebalancing in China

Employment Effects of Growth Rebalancing in China by International Monetary Fund
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This paper gauges the potential effects on employment of rebalancing China's exportoriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely means more demand for existing and new services as well as reorienting the production of tradable goods toward domestic markets. In China's case, this would also imply moving a large number of less skilled labor from the tradable sector to the nontradable sector. The paper shows that while rebalancing China's growth toward a domestic-demand-led economy would likely raise aggregate employment and employment opportunities in the longer term, there could be employment losses in the short run as the economy moves away from the tradable sector toward the nontradable sector. Mitigating these costs will require active labor market policies to cushion the employment impact in the transition, particularly in meeting the skills gap of associated with this transition.
International Monetary Fund; August 2009
16 pages; ISBN 9781452797489
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Title: Employment Effects of Growth Rebalancing in China
Author: International Monetary Fund
 
ISBNs
1451917449
9781451873160
9781451917444
9781452797489