These reforms could take up to 10 years to implement. And only when the productivity of China reaches that of the United States will the two countries' price structures converge.
Resolving these global imbalances requires all major surplus and deficit countries to work through a complex adjustment process. One can only implement a proper policy through rational discussion over an understanding of the diagnosis.
Imposing one's own standard and values onto others and expecting them to bow in acceptance, a centuries-old operating model of the West, breeds only geopolitical conflicts and tensions.