China's Ex-Minister of Finance Lou Jiwei. Photo: Ng Han Guan

Speaking at the China Development Forum over the weekend, China’s ex-finance minister Lou Jiwei, expressed concern that China’s reliance on old strategies for economic growth was not sustainable, reports Caixin. While Lou, who is widely considered one of China’s most outspoken reformists, argued that supply-side reforms are needed to create long-term economic strength. Lou continued that now is an opportune moment to push financial management and supply-side reforms, adding, “The pain will be worse and consensus harder to reach if we have to carry out reforms under tightening policies, causing potential risks to lean toward far-right or far-left populism[.]”