Commentary: A reading of China’s roadmap for market-oriented reforms – People’s Daily Online

This is an excellent MUST READ article from China’s Peoples Daily Online. Check it out!

via Commentary: A reading of China’s roadmap for market-oriented reforms – People’s Daily Online.

English: Logo of the People's Daily 中文: 人民日报题字

English: Logo of the People’s Daily 中文: 人民日报题字 (Photo credit: Wikipedia)

As a former specialist in market-oriented business strategy,  I was immensely impressed with the wisdom and vision shown by China’s Government.

I reflected on the global competitive implications, and my mind switched to the developed countries, in particular, the UK. But this is true for many countries especially in Europe.

In my judgement, the UK needs comprehensive market-oriented reforms; this applies to both the Public and Private Sectors. Many parts of the Public Sector, like healthcare, need scrapping and replacing with Best-Practice systems. Where appropriate, services should be outsourced and off-shored, provided market-oriented controls can be assured. In the Private Sector, many of the former state-owned businesses are oligopolies and need to face the full thrust of market forces. Similarly, financial services is vastly over-regulated and not market-oriented, so that too requires reform.

Let me turn this to open questions:

Surely if China can embrace market-oriented reforms, the European Commission should be sponsoring market-oriented reforms rather than austerity?

Is this an opportunity for Angela Merkel to provide the leadership on a pan-European basis?

Any thoughts?

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