Chinese Central Banker Rejects ‘Japanification’ Worries

(Bloomberg) — China needs more structural changes to lift parts of the economy that still have the potential to drive growth, a central bank adviser said, while pushing back against comparisons to Japan’s stagnation decades ago.

“China’s current situation is vastly different from what Japan used to be in,” said Liu Shijin, a member of the People’s Bank of China’s monetary policy committee, during a speech Wednesday at the Financial Street Forum in Beijing.