John Robertson

Members of China's Communist Party Central Committee have been grappling with the vexed problem of how to remain true to communism while letting the market have its head; no small challenge. The rush of activity that came from freeing up markets and granting property rights has been losing its momentum just as the torrent of water that comes after the dam wall is broken eventually becomes a trickle. The communists need another dam wall to burst to get the growth to support their political and economic goals. They have foreshadowed comprehensive and far reaching reforms but a full understanding of how far Chinese leaders are prepared to venture may not be evident for some months. In any case (whether they have put party primacy at risk or chosen to simply muddle through), any decisions are likely to have repercussions for global growth for years to come.


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