China's Vice Premier and Economic Czar Liu He's telling moment at the World Economic Forum in Davos
My latest #ThoughoftheDayonChina: international media have reacted positively to China’s economic czar Liu He’s speech at Davos as he said it was impossible for China to return to planned economy as some have claimed. The fact he highlighted that point at such a high-level meeting is very telling.
It vividly shows how much China or its perception has changed in the past ten years after more than four decades of reform and opening. Is he reassuring people at home or overseas? Until 10 years ago, if one said China was returning to planned economy, he would have been laughed out of the room. Now he apparently believes that issue is important enough to highlight at an internaitonal meeting.
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Trust can be lost quickly but recovering it can take ages, if at all. And more talk is not how.
They tried it out in Shanghai in April and May of last year. Short answer: No. But your point is completely valid nonetheless.