Minggu, 26 Mei 2013

China Embraces Capitalism And Free Markets


China Plans To Reduce The State’s Role In The Economy -- New York Times

SHANGHAI — The Chinese government is planning for private businesses and market forces to play a larger role in its economy, in a major policy shift intended to improve living conditions for the middle class and to make China an even stronger competitor on the global stage.

In a speech to party cadres containing some of the boldest pro-market rhetoric they have heard in more than a decade, the country’s new prime minister, Li Keqiang, said this month that the central government would reduce the state’s role in economic matters in the hope of unleashing the creative energies of a nation with the world’s second-largest economy after that of the United States.

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My Comment:
This is a seismic change in China's economic policy .... and long overdue. Regular readers of this blog know that I am a China watcher .... who has lived there (1988-1989), and who travels there at least once every year. All of my Chinese contacts are excited with this change .... and so am I. The government has made the decision to embrace capitalism with all of it's pluses and minuses .... and while I am not sure on what this will eventual bring, I do know one thing .... the next decade or two will be an exciting time in China.

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