Economics
China's ‘Hard Bones’ Reform-Drive Seen Leaving Expansion Intact
- Policy makers signal tempo of reform will accelerate next year
- Goldman Sachs, Morgan Stanley see positive momentum for change
This article is for subscribers only.
China’s reform drive is winning plaudits from economists who are increasingly confident that excesses in the world’s second-largest economy can be tackled without derailing growth.
Faced with a debt pile rising toward three times annual output, a property market showing signs of turning, and entrenched interests slowing long-needed reform of state enterprises, China’s top officials are signaling that the tough jobs can’t be put off much longer.