China’s lodestar is not reform but avoiding chaos

China’s policymakers talk much of reform. What really drives them is something different: a fear of chaos. The treatment of the country’s local government debt pile is an example of risk aversion getting the upper hand. The strategy is imperfect, but also right. The ruling State Council on May 15 […]

Reuters via CHINA US Focus http://ift.tt/1Hshxsw