Can China Reform Its Economy?
By any measure, it has been one of the most breathtaking economic transformations in history. In only 19 years since China opened its doors to the outside world, what once was a destitute, hermetically sealed museum of Marxist utopianism has evolved into an explosively entrepreneurial powerhouse. The ensuing years of hypergrowth have left China with one of the world's biggest stashes of foreign reserves and a trade surplus that has many Americans fretting about a second Japan. And perhaps most remarkably, while comrades in Eastern Europe have been swept away, China's Communist Party has managed to stay solidly in power.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- World’s Biggest Wealth Fund Wants Out of Oil and Gas