Having lost his majority in national elections held last year, Narendra Modi’s appetite for tough reform had seemed diminished. But now, will an external shock be a catalyst for change? https://t.co/cZFvUbeZu4 ...

Fixing Bolivia's economic disaster will be like climbing the Andes, but its voters took a big first step by backing reform, says @JPSpinetto (via @opinion) https://t.co/B7tM1wKl9j ...

Former Chancellor George Osborne says the UK's cautious stance means it's trailing global rivals, as Coinbase, trade groups, and startups push for reform.Read more: https://t.co/IPYDqvd2PP ...

From @WSJopinion: U.S. universities need lasting reform but are likely to think they can weather the current storm, writes Mark Helprin https://t.co/i5WAtrxuh1 ...

Government Reform Promises - The government aimed for cleaner governance, a leaner budget, and a departure from patronage politics [1] Political Context - Anwar Ibrahim's rise to power in late 2022 was based on promises of reform [1]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - Supply-side reform in China is evolving, focusing on mid-to-downstream sectors rather than solely on upstream sectors as in previous reforms [2] - The current reform approach is more nuanced and balanced, addressing advanced capacity rather than outdated capacity [2] - The report anticipates a slowdown in China's real GDP growth to below 4.5% in the second half of 2025 due to diminishing export momentum and fiscal easing [11] Summary by Sections Supply-Side Reform - The current supply-side reform is characterized as "new wine in an old bottle," emphasizing the importance of demand for economic reflation [2] - The targeted sectors have shifted from SOE-dominated to POE-dominated firms, indicating a change in ownership dynamics [2] Economic Growth - China's real GDP growth is projected to decline to less than 4.5% in the latter half of 2025, influenced by fading export growth and fiscal easing measures [11] - The economy is expected to remain on a slow reflation path, indicating ongoing challenges in achieving robust growth [11] Housing Market - The housing market continues to face challenges, with elevated inventory levels in lower-tier cities and a persistent decline in housing prices [21] - The National Development and Reform Commission (NDRC) is considering expanding funding channels to address housing inventory issues, which may depend on various factors including funding size and developer selection [22] Fiscal Policy - The fiscal space in China is becoming more constrained, with major tax revenues and land sales underperforming against budget expectations [38][43] - The report suggests that China needs not only new stimulus measures but also a reformed growth algorithm to address structural issues in the economy [44] Reflation Strategy - The report outlines a "5R" reflation strategy, which includes measures such as expanding fiscal deficits, monetary easing, and social welfare spending to stimulate consumption [47] - The strategy aims for a gradual and uneven progress towards economic recovery, with various policy measures expected to be implemented by the end of 2025 [47]

Sir Keir Starmer should stop undermining Britain’s strengths, prioritise reform and arm himself with the "Poundland" strategy that can make the country better off https://t.co/nxLypRokgu ...

More than half of Japanese want to relax rules about last names, according to one study. Most politicians also support change. What is stopping reform? https://t.co/iMyNaDZiJo ...

Country Analysis - Colombia, recognized as one of the world's most unequal countries, is in need of reform [1] - Gustavo Petro's reform plans have been flawed [1] - Frustration has led to consideration of constitutional changes [1]