Article

Why China uses old measures for growth

Yang Jiang analyses the slow progress of Chinese economic reforms in The Washington Post

The Chinese leadership has recently turned back to old measures to stimulate growth, even though it denounced them when it came into power.

In the political blog Monkey Cage of the Washington Post, senior researcher Yang Jiang argues that both top-down reform and bottom-up market dynamism are harder to generatethan the reformers hoped, because of vested interests, immature institutions, and old political and business cultures.

Pseudo-Keynesian stimuluses cannot solve structural problems. Proper decision-making and market institutions are needed for creating political and market incentives for a new model of growth.

Regions
China

DIIS Experts

Yang Jiang
Migration and global order
Senior Researcher
This explains why China is taking so long to reform its economic system
The Washington Post, 2015-09-21T02:00:00