China's remarkable economic growth over the past two decades has substantially increased China's importance in the world economy. At the same time, China's progressive integration into the global economy has had a profound impact on the economies of its main trade partners.

This seminar will focus on the question of the sustainability of China's economic miracle and on the impact that this might have on the global economic outlook. It will also examine the role that China's exchange rate policy might play in addressing today's global payment imbalances.