The China Wealth Management 50-Person Forum was held in Beijing in 2025. Baek Chung-eun, chairman of the CWM50 Academic Committee and dean of the Tsinghua University School of Economics and Management, suggested that in the current context, in addition to investing in goods and people, it is also necessary to invest in reforms. Baek Chung-eun further explained that the so-called investment in reform means using the current vigorous fiscal policy and monetary policy to support the transition costs of reform. “Perhaps the current environment where aggregate demand is insufficient and prices are weak just provides an opportunity to pay the transition costs of reform to achieve better institutional arrangements in the future. Once the transition costs are addressed, it paves the way for better reforms.”

The China Wealth Management 50-Person Forum was held in Beijing in 2025. Baek Chung-eun, chairman of the CWM50 Academic Committee and dean of the Tsinghua University School of Economics and Management, suggested that in the current context, in addition to investing in goods and people, it is also necessary to invest in reforms. Baek Chung-eun further explained that the so-called investment in reform means using the current vigorous fiscal policy and monetary policy to support the transition costs of reform. “Perhaps the current environment where aggregate demand is insufficient and prices are weak just provides an opportunity to pay the transition costs of reform to achieve better institutional arrangements in the future. Once the transition costs are addressed, it paves the way for better reforms.”