China's reforms: time to walk the talk

China's economy is at a cross roads. The factors that have driven its economic transformation over the last decades are waning and the country faces increasingly urgent environmental and social pressures. To avoid falling into the 'middle-income' trap, China's leaders are attempting to engineer a reorientation of the economy towards more sustainable sources of growth. While considerable success has been achieved, more needs to be done more quickly before the authorities in China can prove that they can 'walk the talk.