Why is the one-child policy being relaxed now? The answer, as Beijing-based conomic theorist Michael Pettis suggested in a 2010 interview, has to do with economic growth.
"The essential point is that when China is the world’s largest economy, there’s a psychological shift," notes Asia Society Senior Fellow Jamie Metzl at a recent Vail Symposium talk.
According to a recent Asia Society report by Senior Advisor Dr. Junjie Zhang, sustainable development and economic growth in China do not need to be mutually exclusive.
China has accumulated massive debt through government spending on a "massive stimulus program" and "giant public projects," but the future of such investments is uncertain.
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