This year's China Development Forum in Beijing revealed the clearest vision yet of how China's leaders intend to deliver the "Chinese Dream" of improving people's livelihoods, constructing a better society and strengthening the military.
China needs to reforming the credit-allocation mechanism to provide more capital to well-performing projects and enforce hard budget constraints on poor-performing borrowers.
The growth of credit in China at a breakneck pace, including the spike in local-government debt by 70 percent since 2009, is raising serious concerns about the level of risk in China's financial system.
Few people outside of China know Foshan, a city of 7 million located at the heart of the Pearl River Delta in southern China. Four surprising things have led to its ranking by the McKinsey Global Institute as the world's 13th most dynamic city.
Almost two decades ago, the World Bank published its landmark study "The East Asian Miracle," analyzing why East Asian economies grew faster than emerging markets in Latin America, Africa and elsewhere. These economies, the study concluded, achieved high growth rates by getting the basics ...