CHINA’S CONSUMPTION

THE REBALANCING OF CHINA

China's growth has largely been one-sided, with export and capital investment sectors having been prioritized over consumption. Although consumption has increased, there still needs to be a better balance, argues George Magnus in this excerpt from his book, "Uprising."

George Magnus

The Globalist, February 22, 2011

China has rebalanced before. It did so when introducing radical reforms in 1978 in order to move towards a socialist market economy, and again after 1993 when control over policy, previously ceded to more conservative factions after Tiananmen, returned to the reformers.

Today, China’s elite and intellectuals have again embarked on an as-yet-inconclusive series of significant debates about whether and how to reform.

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