[Re: Will the new Chinese leadership implement necessary economic and political reforms? Friday]
Maintaining the status quo isn’t an option. It would jeopardise the future of the Communist party. But the party has a habit of reinventing itself and I am cautiously optimistic that it will again. Success will depend on two things. First, there needs to be a more widespread crackdown on corruption within the party. More heads need to roll beside that of former regional part leader, Bo Xilai. Second, government dominance in key sectors such as banking needs to be dramatically curtailed. Then the country can find new sources for economic growth and for the private sector to flourish. Over the past three decades, China has gone from an impoverished nation to the world’s second largest economy. It’s been an astonishing transformation, but the current challenges need to be dealt with for this to continue.
James Gruber, founder, Asia Confidential
[Re: We need a new entrepreneurial revolution to rescue Britain, Friday]
We also need to encourage a wider culture that supports entrepreneurial risk-taking. Not every entrepreneur will make it big; but if all are driven by their own passions then that is something for our society to recognise, encourage, celebrate, and make culturally worthy.
Radhika Chadwick, chief executive, Resonant Strategy
China needs to take the reins of economic growth. Reshaping the Chinese economy is one of the key challenges for Xi Jinping.
A clearly disappointing turnout but the untold story of the police commisioner elections is how many independent won.
So, despite the promises that we’d get our money back, taxpayers have lost more than £60bn in the bank bailouts.
I suspect we will live to regret creating these police commissioners. I regret voting for the Bill.