China: Picking the Low-Hanging Fruit of Reform

China Picking the Low Hanging Fruit of Reform

The arrival of 2014 marks the start of China’s real work of implementing major reforms.

Last year was a year of great change. Under a new leadership, the country brimmed with hope that long-stalled reforms could be rolled out, yet debate on which way to go grew ever more fractious. An anxious public waited for nearly a year before Beijing unveiled its blueprint for “comprehensively deepening reforms” at the third plenum of the Communist Party’s 18th Central Committee. The move underlines the top leadership’s resolve to push on with reform, signaling there is no backing out.

Will there be truly groundbreaking change in areas of entrenched problems? We’ll have to see. But at least there can be no argument now that change is needed.

The devil is in the details, however. A consensus will still have to be reached on the specifics – from change in which areas and at what level, to the methods and strategies to adopt. This is no mere battle of ideas; it is a tussle between different interest groups.

To achieve comprehensive change in all areas is not easy. It would help if we keep an open mind and protect the public space for rational discussion.

On topics that are especially controversial and problems that are particularly complex, the authorities should refrain from running roughshod over people’s views. They should instead focus on solving the real problems at hand, first targeting the major bottlenecks with workable fixes.

Read the whole article here.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

Be the first to comment on "China: Picking the Low-Hanging Fruit of Reform"

Leave a comment