Economic reform is challenging, and it will lead to demand for more of the political change that Xi is limiting right now. That’s the risk. But the reward is tangible: a more efficient, dynamic economy that can be sustainable even without the government fueling it. Xi has already done more for that cause than Hu and Wen Jiabao could, and in far less time. But he faces a Goldilocks challenge, where moving too slowly could produce an angry clamoring for more progress, but changes that come too rapidly could destabilize the economy altogether. The upcoming plenary will give us a hint as to where Xi wants to set the speed limit.
Read Full Article »
