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Anders, I agree that rebalancing the pattern of growth is important, and one of the reasons is to ensure that growth can be maintained even if exports will eventually start slowing down. The rebalancing will need to be towards more emphasis on services and consumption, away from industry and investment. There has been some progress, notably in the beefing up the role of the government in health, education, and social security. However, compared to the momentum of the existing pattern, progress in terms of policy measures has been modest. Thus, more is needed. In my view, two types of structural reforms are needed. First, reforms are needed to ensure that new resources are channeled to sectors that should grow in the new setting, instead of to sectors that have traditionally been favored and done well. These means (i) financial sector reform, to improve access to finance for private sector, service oriented, and smaller firms; (ii) adjustment in prices and taxation, to remove subsidization of industrial inputs; and (iii) revision of the dividend policy for SOEs, to improve the allocation of capital. In addition, opening up several service sectors to the private sector and removing unnecessary regulation and restrictions could boost growth and employment. Second, policy reforms are needed to support high quality, permanent urbanization. To get a more thriving, service sector-oriented domestic economy, China needs more migrants to settle themselves permanently in the cities. Urban people consume more than rural people, in particular spend more on services. More permanent migration is key in fostering the more labor intensive urban growth and higher shares of wage income and consumption that the government is looking for. Obvious reforms to promote successful, permanent migration and urbanization are: further liberalization of the Hukou system; land reform; and reform of the inter-governmental fiscal system to give municipalities the resources and incentives to provide basic public services (notably education and health) to migrants.