One of the most important questions in the global economy is the commitment to reform by China’s new leaders. Are they more reform-oriented than the last crew, who talked a lot about economic reform but often didn’t carry through?
China Real Time did a quick analysis based on the philosophy of Casey Stengel, the garrulous former manager of the New York Yankees and Mets known by the nickname “The Old Perfessor.” As Stengel often said, “You can look it up.” So we did.
In his just-delivered 2014 work report, Premier Li Keqiang, used the word “reform” 84 times in his lengthy address. Last year, former Premier Wen Jiabao used “reform” a mere 51 times.
“Transformation?” Mr. Li, 17; Mr. Wen, 5.
What would Mr. Li like to reform? Among many other things: socialism, markets, government, agriculture, science, investment, taxes, finance and schools.
And what would he transform? Industry and foreign trade mostly.
It won’t be easy to do all this, Mr. Li warned: “China’s reform has entered a critical stage and a deep water zone,” he told delegates to China’s rubber-stamp parliament, the National People’s Congress. “We must rely fully on the people, break mental shackles and vested interests with great determination.”
Or as Mr. Stengel reportedly said: “Without losers, where would the winners be?”
via How Committed Is China to Reform? A Tip From ‘The Old Perfessor’ – China Real Time Report – WSJ.
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