One of the key legacies of president Xi Jinping is moving away from some of the key reforms initiated by his predecessor Deng Xiaoping, for example, where it comes to the importance of private companies for China’s economy, says leading economist Arthur Kroeber in Global Village Space.
Global Village Space:
One of Xi’s overarching goals in terms of economic management is to effectively, if not formally, declare the end of the era of reform of Deng Xiaoping,” said Arthur Kroeber, a founding partner and managing director at research firm Gavekal Dragonomics. Whereas Deng and subsequent leaders bolstered the role of private businesses in the economy and reduced that of the state, Xi seems to think that the balance is now about right, Kroeber said.
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