Page 6 - William Hurst News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Oct. 19, 1940—Sept. 21, 2023

China's economic transformation towards a free-market economy driven by services and consumption has failed to materialize, leaving the economy reliant on outdated policies. This has worsened issues of debt and industrial overcapacity, leading to concerns about China's economic future. Experts warn of a potential financial crisis looming over China, with some predicting a slow drift towards stagnation similar to Japan's experience.

By Joe Cash BEIJING (Reuters) - Chinese President Xi Jinping's first major reform plans a decade ago were also his boldest, envisaging a transition to...

Chinese President Xi Jinping's first major reform plans a decade ago were also his boldest, envisaging a transition to a Western-style free market economy driven by services and consumption by 2020. ... -Today at 07:00 pm- MarketScreener

Chinese President Xi Jinping's first major reform plans a decade ago were also his boldest, envisaging a transition to a Western-style free market economy driven by services and consumption by 2020. The 60-point agenda was meant to fix an obsolete growth model better suited to less developed countries - however, most of those reforms have gone nowhere leaving the economy largely reliant on older policies that have only added to China's massive debt pile and industrial overcapacity. The failure to restructure the world's second-largest economy has raised critical questions abou...