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Opinion: To realize the goal of consumption-led economic growth, China needs to allow citizens to gain more income from global financial assets

3 weeks ago
Sky Canaves
Encouragingly, the Chinese leadership under President Xi Jinping has taken important liberalization steps," writes Diana Choyleva. "Capital is flowing more freely, the exchange-rate regime was changed to a crawling peg from a quasi-fixed link to the dollar, and domestic interest rates are no longer set by administrative order. But more decisive action is needed to make the market work."
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.

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