Diana Choyleva writes: Beijing is making headway in its quest to pass the baton of growth from investment to consumption. But to truly change its economic model, China must learn from the mistakes of two Asian neighbors and give more sway to market forces. – Wall Street Journal (subscription required)
After years of liberalization reforms, the IMF announced Saturday the renminbi would join the bank’s group of Special Drawing Rights (SDR) currencies. The group curries a kind of pseudo-currency, which is used only by the IMF to supplement countries’ official coffers when finances are tight. – Foreign Policy’s The Cable
Diana Choyleva writes: Beijing is making headway in its quest to pass the baton of growth from investment to consumption. But to truly change its economic model, China must learn from the mistakes of two Asian neighbors and give more sway to market forces. – Wall Street Journal (subscription required)
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