Key reforms that would open up the country's financial sector such as the liberalization of interest rates and the opening of the capital account have been put on the back burner, and the timeline for their realization is uncertain.

WSJ: Geithner: China's System 'Damaging' to Trade Partners

In the early 1990s, the Asian miracle economies received a large inflow of foreign private capital on account of the financial liberalization they undertook and their economic success.

CNN: VIEWPOINT