01.05.2012 15:30

Cutting 1 Trillion Yuan in Taxes

To take the next step in its development, China must commit to a broad range of structural reforms this year
By Andy Xie
 

The year 2012 is the most important test for China in two decades. The growth downturn is not just a correction or even a cyclical downturn. It is the end to a two-decade-long, invest-and-export growth model. Shifting to a new growth model requires painful reforms. If China refuses to change, it could experience a lost decade.

China's economic slowdown is a good thing in the short term. It decreases waste, and with a shortage of blue collar labor, it carries low political risk.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter
Latest Issue
On the Cover:

How The Hammer Falls

Twenty months into a campaign against corrupt leaders, the crackdown is accelerating and the public is in the loop


Issue 80
August, 2014

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
How The Hammer Falls
Twenty months into a campaign against corrupt leaders, the crackdown is accelerating and the public is in the loop
Issue 80
08.01.2014

Subscribe       |       Newsletter        |        FAQ