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China's economic miracle may be turning into a morass. Beijing has the tools it needs to control its red-hot economy, but it hasn't figured out how to use them. Adapted from the source document.

During the 1980s, economic think tanks played a key role as centres of expertise, with distinctive philosophies and approaches to economic transition. Although they were all government-sponsored, they served as important alternatives to the policies and advice available within the formal government bureaucracy. In the 1990s, think tanks continued to play an important role but lost some of their distinctive personality. Expertise was absorbed into the bureaucracy, but at the same time independent think tanks emerged. Think tanks were knit into a web of policy debate and advice which Premier Zhu Rongji, in particular, uses as a source of ideas and analysis. The total network of advisers has become more important, while think tanks have become less distinctive nodes of that network.