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China must show 'will' to reform economy: US

China's economy has begun transitioning from an export-based economic model toward a lower-growth, more consumption-driven modelChina needs to show the world it is going to follow through on reforming its economy to a more market and consumption-based model, US Treasury Secretary Jack Lew said Thursday. “China has undertaken a reform program… that would address many of the important challenges that China is facing. The question now is, do they have the will to stick with that and to demonstrate through their action that they’re sticking with that,” Lew told journalists on the sidelines of the IMF and World Bank meetings in Lima, Peru.

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