(CNS News) — While making positive comments about the most recent five-year-plan developed by the Communist government of the People’s Republic of China, Undersecretary of State Robert Hormats specifically applauded China’s decision to lower taxes because it would spur economic growth.
“What’s really encouraging to me is that there are a lot of groups in China that are reform-minded,” Hormats said while addressing a group of foreign reporters in New York City last week.
“And if you look at the 12th Five-Year Plan, a lot of what is in the 12th Five-Year Plan in China is very consistent with the kind of things we would like China to do in the interest of the global system,” said Hormats.
“China wants to have better distribution of income, for instance,” said Hormats. “China wants to depend less on exports and more on domestic demand, domestic consumption. China wants to address its environmental problems. It wants to deal with issues of corruption. All these things are big pluses.