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| | Our cover argues that President Xi Jinping should reform China’s economy—both to calm the trade war with America and to make his country richer. After decades of economic progress, growth is slowing, the private sector is stifled by state-owned enterprises, the working-age population is shrinking and debt has surged. Meanwhile other countries complain that state-capitalism makes China a bad economic actor and a security threat. Mr Xi needs to let the market allocate capital, temper his industrial policy and uphold the rights of foreign firms. If so, China would end up richer and make fewer enemies. | |
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| |  Zanny Minton Beddoes, Editor-in-Chief |
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