China's Ruling Party really needs to let go
Is China serious about major economic reform? Probably not, says
Of Late, many propaganda pieces in the Chinese press have appeared extolling the importance of innovation, value creation and a fundamental rebalancing of China's manufacturing-led economy to a consumer-driven one.
However, a big question remains – does the government truly believe its growth model has reached its peak? The key strategy continues to be urbanisation which entails: a) massive infrastructure investment inland; and b) upgrading nonproductive rural workers into higher-productivity manufacturing workers. The structure of the Government's...