A composition comprising a core-shell polymer having an alkali-insoluble, emulsion polymer core and an alkali-soluble, emulsion polymer shell attached or associated with said core so that upon dissolving said shell with alkali, a portion of said shell remains attached or associated with said core, wherein the weight ratio of core polymer to shell polymer is about 99:1 to about 1:99 and said core and shell are each independently polymerized from monomer systems comprised of monomers selected from the group consisting of methyl acrylate, ethyl acrylate, butyl acrylate, 2-ethylhexyl acrylate, decyl acrylate, methyl methacrylate, ethyl methacrylate, butyl methacrylate, acrylonitrile, acrylic acid, methacrylic acid, itaconic acid, maleic acid, fumaric acid, styrene, substituted styrene, vinyl acetate, and other C.sub.1 to C.sub.12 alkyl acrylates.