"On the one hand the world is getting more integrated and we should not dismiss social values as "Western" when they are actually modern values. On the other hand, individual countries have their own history and their own evolution. Trade unions, for example, don't play the same role in China as they do in Europe or the US."

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China reformed its state sector before, in the late 1990s. Tens of millions were laid off at the time. That was scary and we had warnings of social unrest. But it did not happen. Instead, there was a restructuring in our economic system. I am not sure if China will follow a Western playbook in this respect.

— Zhang Xin