June 12, 2017

Lessons From The East: Why Structural Reform Matters

Kadambari Shah, Senior Analyst at the IDFC Institute writes on the imperative need for structural reforms in China in this Swarajya column .

 

"For the past few years, China has been at a crossroads facing trade-offs between the strict government controls imposed by the Chinese Communist Party’s philosophy, and the economic growth drivers demanded by a more open and liberal society. However, as the Chinese government continues to emphasise the role of the state in the economy, it is unclear whether it is willing to implement the type of comprehensive economic reforms that are needed to ensure healthy economic growth.

 

...The major focal points are the need for rebalancing capital and current accounts by giving an increasing importance to consumption over investments and production, tapering the rural-urban divide, and kerbing monopoly power of state enterprises in the context of a greying population, and the imperatives of expanding education to spur creativity."

 

Read the full article here.

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