CSC member Prof Hans Hendrischke in China Daily, USA Edition
19 March 2012
CSC member Professor Hans Hendrischke was recently called on for comment on China's economic future in the cover story, 'Roadmap to 2030', in China Daily's USA Edition.
His recommendations for China's economic future in the 'map' were:
- Reform the local taxation system to deal with chronic local government under-funding.
- Free up the financial system so the big State-owned banks no longer dictate interest rates and monopolize deposits.
- Reform State monopolies and open up restricted industries to the private competition.
- Realize China's long term problems might not be easily solved by quick fixes or Western prescriptions recommended by the World Bank.
To read the whole article, please visitChina Daily.