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In an op-ed, Prof. Michael Spence compares the challenges facing China and other emerging economies

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Excerpt from Project Syndicate -- "Even so, amid growing concerns about emerging economies’ prospects, China is attracting attention because of its scale and central position in the structure of global trade (and, increasingly, global finance). As a result, risk assessment in China focuses on the magnitude of the structural transformation, resistance from powerful domestic interests, and domestic financial distortions."

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