China needs to get “more economic reformers” into key jobs as part of its upcoming leadership reshuffle, in order to break up state-run monopolies and allow the private economy to boom, former US treasury secretary Henry Paulson says. Paulson made the comments in an interview with the South China Morning Post covering a wide range of issues relating to Sino-US ties. He said China’s future economic success depended on breaking up oligopolies and putting state enterprises on a “level playing field” with private businesses. But he said this would be an uphill battle for the Chinese leadership due to resistance from the country’s vested interests. “There is big resistance from vested interests in China that don’t want to open up to competition,” he said.
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