Li Xunlei said on Sept. 19 at the Tsinghua Wudaokou Chief Economist Forum that global economic imbalances are persistent. Within China’s dual circulation strategy he called the international loop relatively smooth but the domestic loop still obstructed. He urged fiscal-and-tax reform to boost central government fiscal capacity, saying long-running local government borrowing has been inefficient and reform could materially raise fiscal support for investment and consumption.