China's Turning Point

China's Turning Point

The Great Recession of 2008-2009 suggests that China can no longer afford to treat the Four Uns as theoretical conjecture. The post-crisis era is likely to be characterized by lasting aftershocks in the developed world - undermining the external demand upon which China has long relied. That leaves China's government with little choice other than to turn to internal demand and tackle the Four Uns head on.

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