-- Politicarp, refWrite Frontpage politics newspotter, analysit, and columnist
China confirms leadership change
by Angus Foster
BBC News, Beijing
China's ruling Communist Party has unveiled a new set of leaders.
Economic reforms have transformed China into the world's second-largest economy. But its 1.3 billion population and continental size mean the problems these new leaders face are still daunting.
These are the issues set to be top of their agenda.
Change the model
China's economic success has lifted 500 million people out of poverty. Yet the economic model that worked so well during the early years of China's development now needs to change.
Chinese and Western analysts say the economy must be rebalanced to give more weight to consumers instead of investment, much of which is government-led and wasteful.
State-owned companies which dominate many sectors need to be opened up to competition.
And, instead of championing these state-owned giants, the government must give more support instead to small and medium-sized companies, because these are likely to be the providers of future growth and jobs.
China's government agrees with these goals, at least in its official pronouncements. The problem is it has done little to address them.

