Year: 2017
Type: article
Abstract: This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
Source: IMF Staff Country Reports
Author: International Monetary Fund. Asia and Pacific Dept
Language: English
Subfield: Accounting
Domain: Social Sciences
SDG: No poverty
Open Access status: bronze
OpenAlex ID: W4236756485