China has problems with its economy says the director of China Center for Economic Research of Peking University.

China has 6 major economic imbalances: 

1. the income gap between urban and rural areas reached 3.3:1 in 2006. The world average is 1.8:1

2. excessive production capacity due to overheated investment

3. insufficient consumption on the part of the Chinese and the world.

4.  "double surplus" in both its capital account and current account. Trade surplus is $112 billion for first six months.

5.  foreign exchange reserves are $1.3326 trillion.

6.  tremendous pressure on resources and environment

And with China as big as it is, the solution does not seem close or easy to implement.

What do you think?

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