This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a rebalancing would entail. The nature of the challenge differs across regional economies, as some, like China, need to raise private consumption while others, like the ASEAN economies, need to raise investment. Given that China accounts for such a large part of the Asian economy, and that its story is such a central focus in the global policy debate, the book discusses various aspects of the rebalancing challenge in China.... be to allow households to borrow against their illiquid housing wealth, such as through the home equity lines of credit available ... Households could save less for precautionary reasons if they could more easily use their home equity as collateral for a ... This would require a proper regulatory framework so that no two creditors could have a claim against the same ... Credit card companies used aggressive marketing and little income verification in an attempt to capture market share.
|Title||:||Rebalancing Growth in Asia|
|Author||:||Mr. Vivek B. Arora, Mr. Roberto Cardarelli|
|Publisher||:||International Monetary Fund - 2011-02-15|