Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

"The Yellow River and Yangtze River will not flow backward," Premier Li Keqiang, right, recently said, in a possible dig at President Xi Jinping's economic policies. (Nikkei montage/Getty Images/Reuters)
Emphasis on reform and opening-up puts brakes on Xi's economic policies