In an interview yesterday, Shenhua head coach Gustav Poyet expressed The preparation in Okinawa is very important. I hope everyone in the team can show up.

Indeed, according to the late economist Gustav Ranis, the interactive dynamic of policy and market institutions was the key to the success of the East Asian economies. For example, fiscal decentralization in China, spurred by local institutions demands for increased autonomy, has helped to fuel regional competition and sustain an increasingly market oriented economic environment.

As the late Yale economist Gustav Ranis observed nearly 20 years ago, the key to successful and sustainable development is avoiding the encrustation of ideas. For Chinese policymakers, this means recognizing the need to abandon some of the fundamental ideas that underpinned the economy s past growth, before they become so firmly encrusted that they jeopardize the country s development prospects.