David Stanway — Heralding Social, Financial Change, China Aims Blow At Iron Rice Bowl

This is earthshaking change for China. The leadership has to be very confident in "market socialism" to undertake it. It's like cutting Social Security and Medicare in the US, only bigger, since the "iron rice bowl" is cradle to grave.

Reuters
Heralding Social, Financial Change, China Aims Blow At Iron Rice Bowl

David Stanway