In addition to reform resistance and inherent incentive problems in the system, China’s senior leaders know that time is not on their side. With a sense of urgency, as discussed in Chapter 3, President Xi Jinping and his inner circle have embarked on one of the most ambitious economic and social reform programmes in history to remake the country. What is unclear to outsiders (including the Chinese majority who are not in the political inner circle) is how many of the reforms, including the anti-corruption campaign, are real strategic moves to change the system and how many of them are part of the power struggle between the old corrupted faction and the new reform leaders.
KeywordsPurchase Power Parity Chinese Communist Party Structural Reform Power Struggle Lending Rate
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