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Henry Paulson: China Moves Forward With Economic, Political Reform

China flag_EGovHenry Paulson, former U.S. Treasury secretary, told a recent forum that Chinese leaders are working on reform measures to sustain economic growth and improve its political structure, Bloomberg reported Thursday.

China’s proposed reforms include provisions to loosen its one-child policy and bolster land rights for local farmers, according to a report by David Lerman and Josh Tyrangiel.

Paulson believes resistance and corrupt practices could hinder the faster implementation of major policy changes in the Asian nation, according to the article.

“I think they’ve got a lot of work to do. I hope they succeed, and I’m cautiously optimistic because it will be good for China and good for all of us,” Paulson told his audience.

He added that China should put an end to monopolies by state-controlled businesses and address environmental issues that cause pollution and health problems, Lerman and Tyrangiel write.

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