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Zhang, Joe

is author of "Party Man, Company Man: Is China's State Sector Doomed?” and writes for the Financial Times UK

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1 article of this author has been cited in the European Press Review so far.

Financial Times - United Kingdom | 04/01/2016

No need to panic about Chinese stock markets

China's stock exchanges dropped by seven percent on the first day of trading in 2016. But this is no cause for concern, the liberal business paper The Financial Times believes: "Even after yesterday's sharp fall, the Shanghai stock market index is more than 40 per cent higher than it was for two years before prices began to take off in late 2014. Shares are likely to fall further. That will be painful for investors. But, outside the financial markets at least, it need not lead to drama. Realising this, President Xi Jinping is again changing course and has begun touting the virtues of supply-side reform. This looks like a sure sign that Beijing has had its fill of stock market tinkering and is turning instead to a watered-down version of Reaganomics. ... [This] involves making it easier for business to operate by eliminating tedious bureaucracy. The second entails giving the private sector a bigger role in public works projects."

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