OPINION: China’s economic czar Liu He has told the world’s business elite the country is back on the path of market reform and opening up. But many have heard it all before.
for the first time in 60 years. Liu declared China’s COVID-19 outbreak had peaked, and the economy would improve significantly this year.Jing Liu, HSBC’s China chief economist, says: “This is also the very time Chinese policymakers have vowed to refocus on growth, to lift the economy back on track, as well as to continue their commitment to opening up and reform. Liu’s speech aims to revive confidence and provide clarity on the direction of China.
Instead of cracking down on capitalism, Liu says Xi’s “common prosperity” goal has been misinterpreted and that it is a long-term task which will not seek to “force equal outcomes on all”.when China’s president used his keynote speech to position China as a global champion of free trade which could potentially replace Trump’s America.
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