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Chinese Premier Li Keqiang delivers a policy address at the National People's Congress in Beijing on March 5.   © Reuters
Economy

Reaganomics finds a home in Xi's China

Beijing wants to make supply-side economics work in a communist state

HIROSHI MURAYAMA, Nikkei senior staff writer | China

TOKYO -- A specter is haunting China -- the specter of Reagonomics. When given this little twist, the opening line of the Communist Manifesto quite aptly describes the economic policy being pursued by Beijing.

On March 5, Premier Li Keqiang delivered a policy address, called a "report on the work of the government," at the start of the annual National People's Congress. Halfway through, Li described the communist state's economic direction for 2017: "Structural reform on the supply side must be the major course. We must stimulate microeconomic agents by simplifying the government, cutting taxes, lowering entry barriers, encouraging innovation ... ."

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