Little surprise Beijing doesn’t want Western advice for its economy

When a patient repeatedly refuses the same medicine, there are usually three possibilities: he does not understand the diagnosis, cannot afford the treatment, or does not trust the doctor. The same logic applies to economic prescriptions.In the case of China, the first possibility is unlikely because Beijing understands what ails its economy. The reason it is not acting as expected is probably a combination of the other two scenarios, compounded by a more fundamental difference: China believes it is treating a different disease.Western economists see weak consumption, a prolonged property downturn, deflationary pressure, a massive trade surplus and indebted local governments. Their standard prescription is to transfer more income to households, strengthen the social safety net and reduce reliance on investment, exports and manufacturing.