MISSING PIECES
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hina’s Communist Party has persistently reinvented LWVHOI ZKLOH PDLQWDLQLQJ D ¿UP JULS RQ WKH FRXQWU\ 7KH QRUPDOO\ VWURQJ 3DUW\ QRZ IHHOV FRQ¿GHQW HQRXJK WR DFNQRZOHGJH WKDW LWV KDQG ZDV IRUFHG E\ VRFLDO GHYHORSPHQWV &KLQD¶V SRLQW UHIRUP SODQV FRPH XQGHU EURDG FDWHJRULHV RI VLJQL¿FDQFH DQG SULQFLSOHV EDVLF HFRQRPLF V\VWHP PRGHUQ PDUNHW V\VWHP DQG *RYHUQPHQW UROH ,W DOVR LQFOXGHV ¿VFDO DQG WD[ V\VWHP XUEDQ UXUDO GHYHORSPHQW UXOH RI ODZ VXSHUYLVLRQ RI SRZHU FXOWXUDO V\VWHP VRFLDO JRYHUQDQFH DQG HFRORJLFDO FLYLOL]DWLRQ 7KH
|38| India-China Chronicle January 2014
UHIRUP SODQ FRPSULVHV RI GHIHQVH DQG DUP\ UHIRUPV DV ZHOO DV IXUWKHU RSHQLQJ XS RI WKH HFRQRP\ &KLQD¶V UHIRUPV SODQ FRXOG EHQH¿W VHFWRUV VXFK DV FRQVXPHU LQIUDVWUXFWXUH LQVXUDQFH DQG FOHDQ HQHUJ\ The reforms stem from the growing popular anger at the PRXQWLQJ LQFRPH JDSV LQ WKH FRXQWU\ ±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¶V WRXJK RQH FKLOG SROLF\ IRU XUEDQ FRXSOHV ZLWK D VLQJOH SDUHQW FDQ EH VHHQ DV DQ DGPLVVLRQ WKDW WKH 3DUW\ ZDV ZURQJ WR GLFWDWH SULYDWH GHFLVLRQV ,W GRHV DFNQRZOHGJH LWV QHJDWLYH HFRQRPLF FRQVHTXHQFHV (PSOR\LQJ VRPH KDOI D PLOOLRQ ZRUNHUV WR HQIRUFH WKH DERUWLRQV RI XQDXWKRUL]HG SUHJQDQFLHV PLOOLRQ VLQFH DQG LPSRVH ¿QHV KDV EURXJKW XQLQWHQGHG FRQVHTXHQFHV )RU WKH ¿UVW WLPH LQ \HDUV &KLQD¶V ZRUNLQJ DJH SRSXODWLRQ KDV VKUXQN LQ :LWK ELUWK UDWHV EHORZ UHSODFHPHQW OHYHOV &KLQD ZLOO JHW ROGHU EHIRUH LW JHWV ULFK
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JAGAT SHAH The writer is Chairman, India China Economic & Cultural Council (ICEC), Gujarat
January 2014 India-China Chronicle |39|