Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

In China, new leadership but familiar challenges

Rob Schmitz Nov 15, 2012
HTML EMBED:
COPY

In China, new leadership but familiar challenges

Rob Schmitz Nov 15, 2012
HTML EMBED:
COPY

On China’s new rulers to-do list: Tackle the nation’s widening wealth gap, clean up decades-worth of environmental neglect, and straighten out the kinks in the economy.

“The first and most immediate challenge is how to handle a slowing economy,” says Patrick Chovanec, professor at Tsinghua University’s School of Economics and Management. “There are a lot of people who would like them to respond with stimulus and help pump the country back up, there are others who argue that what’s needed is more reform; even if that means slower growth in the short run.”

If the new leaders choose a path of economic reform, says Chovanec, that will mean a transfer of capital from a public sector full of giant state-owned enterprises to the private sector, opening up China to more market competition.

 

 

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.