Wisdom needed for China's reform

A conference for young economists in Moganshan, Zhejiang province in 1984 was regarded as a milestone event in China's journey of reform and opening-up, says an article in China Business News. Excerpts:

The meeting touched on many important topics for China's future development. Should China carry out reform and opening-up? What are the objectives? What is the best path for China's reform to take? And how should the problems arising from reform be solved?

Even if many of the attendants were idealistic to some extent, their discussions have had a far-reaching influence on China's future.

A similar conference is now being held in the same place. But its real significance outweighs its symbolic meaning. More than 120 representative economists from around China are taking part in the event. They have no time for nostalgia, because they have too many urgent problems of today's China to discuss.

It is important for the young economists to share their thoughts on a series of pressing topics such as China's financial and tax system reform, the transformation of the government's role, the transformation of the Chinese economy and the upgrading of China's industrial structures.

China's reform has helped the country realize more than 30 years of fast economic growth. But the problems appearing in this process are also threatening the reform itself.

The economists attending the conference in 1984 should be praised for their ambition, creativity and passion. Today's economists should show more wisdom, expertise and understanding of China's complicated national conditions while pursuing solutions for the challenges, because the environment now is fundamentally different from that of nearly 30 years ago.

If their thoughts and findings can serve as valuable reference points for decision-makers, this meeting will be marked as another step forward — much like the one in 1984.