A page one People’s Daily interview with an ‘authoritative person’ on 9 May set the tone for the month, reaffirming the decisive role of markets, and reiterating the priority of supply-side structural reform. Reassuring those fearing economic reform had gone off the rails, talk of an L-shaped growth curve set out to modify expectations of a rapid recovery. Instead, it led to widespread speculation of a growing divide at the top. Some read it as an attack on Li Keqiang 李克强, with his State Council’s publishing a list of its Q1 achievements as a defence. But it is just as likely that the interview was designed to restore the Party’s reform credentials in the wake of Gao Xiqing’s 高西庆 revelations in New York in late April. The tealeaf reading is set to continue.
May: 'authoritative person speaks'
May: 'authoritative person speaks'
May: 'authoritative person speaks'
A page one People’s Daily interview with an ‘authoritative person’ on 9 May set the tone for the month, reaffirming the decisive role of markets, and reiterating the priority of supply-side structural reform. Reassuring those fearing economic reform had gone off the rails, talk of an L-shaped growth curve set out to modify expectations of a rapid recovery. Instead, it led to widespread speculation of a growing divide at the top. Some read it as an attack on Li Keqiang 李克强, with his State Council’s publishing a list of its Q1 achievements as a defence. But it is just as likely that the interview was designed to restore the Party’s reform credentials in the wake of Gao Xiqing’s 高西庆 revelations in New York in late April. The tealeaf reading is set to continue.