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Reforming China’s State-Market Balance
No country in recorded history has grown as fast – and moved as many people out of poverty – as China over the last thirty years. A hallmark of China’s success has been its leaders’ willingness to revise the country’s economic model when and as needed, despite opposition from powerful vested interests. And now, as China implements another series of fundamental reforms, such interests are already lining up to resist. Can the reformers triumph again? In answering that question, the crucial point to bear in mind is that, as in the past, the current round of reforms will restructure not only the economy, but ... (full story)