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Geithner Sees Need for 1970s-Style Shift in China Economy

From bloomberg.com

U.S. Treasury Secretary Timothy F. Geithner said the country has a “strong interest” in China’s ability to reshape its economy in favor of consumption and private growth and away from exports and state-owned enterprises. “In China, you are in the process of exploring the next frontier of economic reforms, recognizing as your predecessors did more than 30 years ago, that future economic growth will require another fundamental shift in economic policy,” Geithner said in remarks prepared for the opening of annual U.S.-China talks in Beijing today. “The United States has a strong interest in the success of these reforms, ... (full story)

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