China's growth commitment to fuel global economy
The Bo Xilai trial had looked to be the Chinese news event of the year in the international scene. This was along with the preoccupations of Western media and corporate corruption news as well as the clampdown in European and American firms. However, these issues are said to be sideshows to the most significant recent economic events which unveiled and ratified a major program of reforms to occur in the next decade. The start of this program would be discussed at the third meeting of the Chinese government scheduled in November. Reuters reported that the reform would help China take a leap in economic growth and development.
The Chinese government officials would reveal the time frame China needed to make the transition. China's economy would take a shift from an investment led, middle income country to an innovative consumer driven, high income nation. The transition would also make China's economy the biggest in the world.
This week, a meeting at the New Champions Summit in Dalian, China would discuss the challenges that the country's new leadership would face. The summit was organized by the World Economic Forum led by Executive Chairman Klaus Schwab.