Market economy 10 years away

The Asian Development Bank (ADB) published a report saying that China needs at least 10 years to create a true market economy. An economist at the Philippines-based bank listed 10 questions which China must ask itself before it can say it has a market economy. He said that China must �take politics out of regulation�, that the rule of law must be respected to a greater extent, that an independent court system must be in existence, and that creditors' rights must be protected sufficiently. The ADB is helping China to design a bankruptcy law to improve creditors� ability to seize assets.