Over the past three years, Beijing under the leadership of Xi Jinping has changed the direction of its economic policy decisively. Alone among the world’s major savers, China has embarked on necessary but painful reforms rather than opt for competitive devaluation. Despite much weaker growth, overall policy has been tight. By Chinese standards, progress on financial liberalisation has been swift.
However, the ultimate success of China’s policy drive will depend on three big IFs. To find out more about whether China will be able to rebalance and help the global economy emerge from the post-crisis doldrums or plunge the world into another recession, click below.