Why China Needs the Market now More than ever

Exclusive interview with TIAN Guoqiang ( 田国强), Director of Economics Institute,
Shanghai University of Finance and Economics
China Economist reporter XU Jin ( 徐瑾)

After 30 years of reform,people have been calling for fundamental breakthroughs in the reform of property rights and the political system. But in an exclusive interview,Professor Tian Guoqiang tells us that the initial conditions for development in China and a natural propensity have determined that so-called fundamental solutions like property rights are until now still totally impractical. But Tian is optimistic. Once a student of Leonid Hurwicz, the great master of mechanism design theory, Tian believes that it is high time to define government and market boundaries to steer China’s institutional reform in the direction of a “good market economy”.