In recent years, American politicians have been seeking to challenge China’s status as a developing country Despite building a “moderately prosperous society”, the Chinese economy is still not considered high-income, and parts of the country still face unbalanced development.
China finds itself in need of its latest landmark reform as the urban-rural divide keeps growing and the broader economy is seeking new sources of growth. One possible solution is finding better uses for rural land and giving farmers the same legal rights as urban residents to rent, transfer or mortgage their land.