Time not ripe to leave all to market

There is usually little new in what the World Bank, or any other foreign analyst, has to say about the Chinese economy.

I am sure that the economic planners know by heart the potential problems associated with negative bank interest rates. Of course, they don't need to be told of the rather basic monetarist tool of raising the cost of money to combat inflation.

Rebalancing the economy by allowing the renminbi to appreciate further than it already did against the US dollar is a topic that has been analyzed to death. And nobody can be sure what economic model to follow to arrive at the so-called "equilibrium" exchange rate without the test of full convertibility.