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China’s Bold Market Oriented Reforms

 

The Communist Party of China, which at one time sent tremors throughout the capitalist world particularly the Western countries, has just introduced another dramatic package of home-grown market-oriented reforms. In fact, the outcomes of the Third Plenary of the Central Committee of the Communist Party offer important insights for Sri Lanka. The Pathfinder Foundation (PF) is focusing on these reforms to convey the message that they offer considerable scope for being customized to reflect the specific conditions of the Sri Lankan economy. In considering these reforms, it is important to take into account the political and social characteristics of Sri Lanka. The level of ambition of the reforms that have just been announced by the Chinese authorities has surprised almost all commentators. Some skeptics claim that the actual implementation of the reforms will fall short of what is promised due to resistance from vested interests and/or a lack of political will. This is unlikely, particularly as President Xi Jinping has personally taken charge of the mechanisms that have been established to oversee these economic reforms. He will lead the group on “Comprehensive Deepening of Reforms” which has been tasked with implementing the planned changes. It is very unlikely that President Xi will compromise or back down now that he has staked his personal authority behind these reforms.

Last Updated on Tuesday, 11 March 2014 10:52

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Emerging Power of the Yuan and De-dollarization of the Global Economy

The US government shutdown and the debt ceiling crisis have increased global concerns regarding the impact of the dysfunctional US political system on the international financial system, in particular, and the global economy more generally.

Last Updated on Tuesday, 22 October 2013 09:23

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Great Leap Forward in Sino-Lankan Relations- A way forward

Great Leap Forward in Sino-Lankan Relations- A way forward


China’s Steadfast Friendship


Sino-Lankan relations are on the threshold of a transformative leap forward. Contacts between Sri Lanka and the Middle Kingdom go back several centuries to the visits by the monk/scholar Fa Hsien and the impressive naval fleet of Admiral Zheng He. In the post-colonial era, the historic Rubber-Rice Pact (1952) was the landmark that initiated the very cordial relations that have prevailed between the two countries during the subsequent decades. China has been a steadfast friend which has played a very important role in protecting the unity and territorial integrity of the country. 

Last Updated on Monday, 30 September 2013 09:28

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