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The Nikkei View

China needs economic-policy overhaul at party congress

Xi-led measures have throttled the private sector and blunted growth

Chinese President Xi Jinping greets a crowd on a visit to Liaoning province on Aug. 17. (Xinhua via Kyodo)

When the Chinese Communist Party holds its quinquennial national congress from Oct. 16, it should seek to undertake a major shift in the nation's economic policy.

The recent stagnation -- symbolized by the rise in youth unemployment -- stems from the policies of the administration of President Xi Jinping. China's growth has been driven by free market principles. If those principles were to be sidelined, the country would inevitably fall into a policy-induced recession. Without drastic changes, China's economy is unlikely to recover.

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