China's Structural Reforms Prevail, Despite Tough Global Landscape

China’s Structural Reforms Prevail, Despite Tough Global Landscape by Dan Steinbock, Difference Group

During the on-going “Two Sessions” – the annual plenary meetings of China’s top legislative and consultative bodies – international spotlight focused on the 13th Five Year Plan, poverty alleviation and the charity law, the rule of law, the Belt and Road initiative, green development, and the anti-corruption struggle.

From the standpoint of the market economy, the structural reforms play the most critical role in China’s transformation, however.

China’s structural reforms against the new normal

In the past few years, President Xi Jinping’s priority agenda – the “Four Comprehensives” – has become the grand blueprint of China’s new five year plan. The most critical tenet of the agenda stresses...