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China's Economic Reforms Get Another Chance

Oct 18, 2017 | 09:00 GMT
For years, China has tried to better balance the wealth in Qingdao and other coastal areas with inland areas that have languished.

Heavy fog covers buildings in Qingdao, on the coast in Shandong province. Part of the imbalance in Chinese socio-economic conditions stems from the relative wealth of the country's coastal areas compared with its inland provinces.

(STR/AFP/Getty Images)

The global financial crisis in 2008 was the last straw for the Chinese economy. After years of rapid growth, China had finally reached the limits of its economic model, centered on exports of low-end manufactured goods. The ensuing slump revealed the glaring inequality that still divided the country's coastal regions...

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