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