Frugality and overspending: sources of Sino-U.S. economic imbalances

YAN Kun (闫坤)1 and YAN Xiaofa (鄢晓发)2
1 Professor, Research Institute for Fiscal Science (RIFS)
2Associate Professor, Professor, Research Institute for Fiscal Science (RIFS)

Abstract:
Savings rates are the biggest difference in the economic structures of China and the United States, the two most important countries in today’s global economy. China has the highest savings rate of any major country, while the United States, at the other end of the spectrum, has the lowest. This paper discusses the origin of this contrast and its far-reaching implications for two-way economic and trade ties.

Key words: Savings rate; Sino-U.S. economic ties; Impact

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