China’s long-term growth trajectory will depend on the introduction of market reforms, and the country’s potential growth rate could fall to about 2.5 per cent in the coming years unless action is taken, a prominent Chinese economist has warned.
“Without a strong turnaround in total factor productivity and a meaningful expansion in household consumption, it will be difficult for China’s economic growth to reach 4 per cent or higher,” said Zhou Tianyong, former deputy head of the Central Party…