Zhang Monan writes that the global economic system is shifting, and China must seize the strategic opportunities with a new line of thought by working hard to avoid any weakening of its development, seizing new opportunities and creating new advantages.
The People’s Bank of China has been pursuing capital-account liberalization at an increasing rate since 2009. But Chinese policymakers should recognize the significant risks inherent in relaxing capital controls – risks that imply the need for a more cautious approach.
According to Chinese news reports, urbanization could add 400 million more people to the current Chinese urban population in the next decade. Ding Yifan writes that this will objectively promote the further liberalization of China’s domestic capital markets, driven by comprehensive reform.
As the large emerging economies met at this year’s BRICS Summit in Durban, South Africa, they focused on proposals for a BRICS development bank and the future of the global economy in an attempt to counter reduced growth prospects.
What has emerged from the 2013 National People’s Congress was far different in tone from the usual emphasis on the growth imperative, writes Damien Ma.
At this month’s BRICS summit in Durban, the leaders of Brazil, Russia, India, China, and South Africa will set ambitious goals. But, given the obstacles to cooperation – from mutual distrust to disparate interests – that exist among them, they are more likely to achieve their goals individually.
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