OPINION

Maybe China shouldn't open up yet

News, Michael Pettis, Published on 28/11/2017

» China needs reform. This has long been the consensus advice from economists and multilateral institutions such as the World Bank, whose recent "China 2030" report argues that Chinese leaders should strengthen the role of markets and liberalise legal, financial and other institutions governing the economy. Their to-do list is virtually gospel by now: free up trade and investment, unshackle the exchange rate and ease capital controls.