China’s Reform Stalemate
China’s reform program has reached an impasse, with fundamental conflicts of interest and subtle resistance mechanisms blocking progress. Until these barriers to change are removed, there is little hope that China’s slowing economy can rely on reforms to give it the push it needs.
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BEIJING – China’s reform program has reached an impasse, with fundamental conflicts of interest and subtle resistance mechanisms blocking progress. Until these barriers are removed, there is little hope that China’s slowing economy – which grew by 7.4% in 2014, its lowest rate in nearly a quarter-century – can rely on reform to give it the push it needs.