Apr 04, 2018 05:39 PM

Opinion: Resistance to Opening Up Ignores 40 Years of Success

China’s “2018 Government Work Report” called for China to further open up its financial sector to the world. This reflects China’s resolve to deepen reforms and continue opening up.

But the push to open up is not without its detractors. These detractors generally overestimate the risks of opening up and underestimate the benefits, a sign that they are lacking “Four Confidences” — the doctrine promoted by President Xi Jinping that calls for confidence in China’s path forward — and essentially reject the results of China’s past 40 years of reform and opening-up.

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