First published: The Globalist, 8/11/2013
(Note from author: this article was based on a much more detailed research paper on urbanisation and growth in China, available on request)
Why is local government reform in China key to the national economy?
In China, the political relationship between the central and local governments is complicated. What is more, it is – quite surprising for a nation that is widely viewed as ruled by a top-down central government – unbalanced in favor of local governments.
China’s myriad of local governments has grown to become a leading source of risk, both to the country’s economic and financial instability.
Perplexingly, but tellingly in this age of powerful global comparisons, China may be able to learn how to deal with its current local government problem by looking, of all conceivable places, at none other than the historic U.S. experience….“more:”
