When Treasury Secretary Jack Lew went to China this week, the usual thorny topics came up with Chinese government leaders: trade, currency manipulation, intellectual property protection, plus an extra dose of finger-wagging about recent cyberattacks.
But there’s something going on in China that will have far broader ramifications for the U.S. economy beyond any one of these issues: China’s new leaders have pledged a massive economic overhaul, the likes of which hasn’t been seen in the country since the 1990s.
Everyone will be watching to see whether China can pull it off; the project will take a number of years. But if you think the economic relationship between the United States and China is complicated now, just wait until the Chinese leadership tries to transform the very structure of the world’s second-biggest economy.
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Jia Lynn Yang, Washington Post via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/LJ7n2XlhbhI/
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