The Second Coming of Zhu Rongji?
Despite the apparent parallels between the challenges facing Chinese Premier Li Keqiang and his predecessor Zhu Rongji, the differences between them are greater. Whereas Zhu had to centralize power in order to stabilize the economy in the 1990's, today Li must pursue decentralization to foster technological and industrial upgrading.
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SHANGHAI – The recent release of a book of speeches by former Chinese Premier Zhu Rongji has refocused attention on his bold – and often highly controversial – economic reforms of the 1990’s, which included reining in state-owned enterprises (SOEs) and overhauling the banking system. But the discussion has taken an unexpected turn, with Chinese media adopting a far less critical stance than that which has prevailed for the last two decades.