There are two levers in macroeconomic control

• fiscal policy
• monetary policy

However, in practice the Chinese government has used a third lever

• adminstrative policy

These include production instructions to SOE's and local governments to provide or restrict credit. In most economic thinking this third lever is regarded as a temporary and ineffective abberation which well disappear when China becomes a mature economy. The idea that I'm bringing to the table is to not regard the third lever as an abberation, but to

• recognize that the third lever is the primary macroeconomic control that the government has,
• to at least consider the possibility that one should necessarily get rid of the third lever, and
• to realize that it would be a massive disaster if the third lever is removed without making the first two effective.