China’s slowdown is of its own doing

By Dr. Harry G. Broadman (original source Financial Times)

“The noose around the neck of China’s economy has been getting tighter, but hardly as a result of the tariffs imposed by the US. This is a dangerous myth celebrated by Washington and used as a scapegoat by Beijing.

Rather, the squeeze is largely self-induced. It stems from the lack of further reform — in some cases, the reversal of past reforms — in an economy still heavily dominated by the state and whose largest enterprises remain governed by the Communist party. The power to alter China’s economic fortunes lies largely in Beijing’s own hands.”

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