In other words, it has to run its economy at an exceptionally fast pace, and is reluctant to adopt policies which might run counter to this aim in the short run, even if they would contribute to maintaining longer-run sustainability. 5  See Dooley, Folkerts-Landau and Garber (2003 and 2005) for an interesting account of the Asian approach to balance of payments adjustment.
6/10  I think historians will regard the economic liberalisation of China as the major economic event of the past 30 years, with its effects showing up in countries and economic variables that at first sight seem remote from it.