Europe Warns New Chinese Leaders that Reform Must Come

September 6, 2012 James Heinsman Quote of the Day

The World Bank, along with other government advisors are calling for China to reduce state-sponsored industry. This appeal comes as new leaders assume power of the Communist Party in the world’s second largest economy. The European business leaders warned that China’s government dominated economy must make tremendous reforms to maintain China’s rapid growth rate.

"Incremental and piecemeal reforms must give way to urgent and comprehensive reform," the European Union Chamber of Commerce in China said in a report. "These changes are now urgently required not only for China, but also for global economic growth."
 

business, China, Europe, World Bank,

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