China: stability and economic growth. China experienced an extraordinary economic growth since 1978, while keeping inflation low. Which are the main determinants for this performance and to what point has macroeconomic policy been responsible? Obviously, many factors have been important although none of them may be appointed as the sole determinant. The paper also argues whether China would be able to keep this pace of growth or will slow down, like many other Asian countries. It is argued that China will maintain her average rate of growth in the near future.
China; economic growth; macroeconomic policy; inflation; balance of payments; savings and investment
