# In an op-ed, Prof. Michael Spence addresses economic reform in China

1 Faculty News November 17, 2014 ![Project Syndicate logo](/sites/default/files/styles/246w/public/assets/images/con_030500.jpg?itok=ONV7lJ6H)>

Excerpt from [Project Syndicate](http://www.project-syndicate.org/commentary/china-state-asset-diversification-by-michael-spence-2014-11) -- "China does not have to give up the safety net provided by large asset holdings to allow markets to play a decisive microeconomic role. It can abandon the commanding heights model and develop its version of 'state capitalism' to support the best of both worlds. All that is needed is a persistently strong government commitment to the public interest – and, of course, a skillfully executed reform strategy."

[Read more](http://www.project-syndicate.org/commentary/china-state-asset-diversification-by-michael-spence-2014-11)