The Chinese economy may appear to be benefiting from a second wind, but a host of problems remain not far from the surface, ranging from a swelling real estate bubble to excess capacity at state-run enterprises. Many local governments are saddled with a pyramid of debt. The administration of President Xi Jinping is acutely aware of the need for radical structural reforms, but is weary of sparking an economic downturn. China's once thriving economy now finds itself at a major turning point. Read more
