@TechReport{iza:izadps:dp16140,
            	author={Prasad, Eswar},
            	title={Has China's Growth Gone from Miracle to Malady?},
            	year={2023},
	month={May},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={16140},
            	url={https://www.iza.org/publications/dp16140},
	abstract={China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country's low levels of financial and institutional development, state-dominated economy, and nondemocratic government. Notwithstanding the inefficient and risky growth model, the government has maneuvered the economy around various stresses without any major financial or economic crash. With a shrinking labor force and declining efficiency of investment, raising productivity growth is key to maintaining reasonable GDP growth. Unbalanced reforms, a schizophrenic approach to the role of the market versus the state, and strains in financial and property markets could result in significant volatility but a financial or economic collapse is not in the cards.},
	keywords={growth rebalancing;sectoral reallocation;demographics;productivity growth;financial risks},
            }