Secondary Sources Asia: Reviving EM Growth, China’s Local Debt Dilemma, Reassessing China’s Rebalancing

A roundup of news and analysis from around the Web on Asian economies.

–Reviving EM Growth: Economists at The Institute of International Finance argue that recent weakness in emerging-market growth reflects underlying structural factors, including a lack of reform and a gradual exhaustion of growth drivers. To revitalize growth prospects, emerging markets must advance a broad range of reforms aimed at achieving balanced and higher quality growth.

–China’s Local Debt Dilemma: It’s obvious there are problems in the way China’s local governments are spending money, the Peterson Institute for International Economics’ Ryan Rutkowski writes — but warnings of an imminent debt crisis are overblown.

–Reassessing China’s Rebalancing: China’s senior leaders seem intent on rebalancing the economy away from a heavy reliance on exports and investment and toward internal consumption. Brookings Institution Senior Fellow David Dollar examines the development experiences of Japan, South Korea and Taiwan to see how urgently China needs to rebalance its economy, and how it might be accomplished.