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Beijing’s Li talks reform with bond market push

TOKYO – As China scrambles to stimulate growth, it’s comforting to see Chinese Premier Li Keqiang internalizing – apparently – the works of Milton Friedman.

How so? By recalling the Nobel Prize-winning economist’s edict that a crisis is a terrible thing to waste.

This week, Li called on local officials in six key provinces to take bold action to put a floor under China’s economy. These six regions — which drive 40% of gross domestic product — are precisely where Beijing should be looking as growth flatlines. Output and consumption are cratering amid Covid lockdowns and sliding property values.



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