China is still a middle-income country in the world economy. The steps that are needed to move from middle-income to upper-income are just as large asthe steps that China has already been taking during the last four decades. I’m not sure what the next round of policy reforms will look like, but to continue China’s fast pace of growth, the>

One big emphasis of China’s government in the last few years has been the need for reform of the financial sector, and this seems important to me, too.  Many of the problems that the US and the world economy experienced during the Great Recession of 2008-2009 emerged from the financial sector. In China, there are changes underway in the regulation of banks, insurance companies, and securities firms. The People’s Bank of China has been evolvingin how it carries out monetary and credit policies. >

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