China39;s economic malaise sparks stimulus or reform debate
Some advisers urge Beijing to ramp up infrastructure spending
Others call for reforms to unleash new growth drivers
Policy debate precedes key party meeting on economy

BEIJING, Sept 21 Reuters China39;s economic slowdown is polarising government advisers over the best way forward, with advocates of structural reforms now emerging from the shadows in a challenge to others calling for more state spending to shore up faltering growth.

The rare debate among advisers, who influence policymaking but do not wield direct power, comes as global markets scramble for clues on how authorities will halt a downturn that has left millions without jobs, forced investors to flee and the yuan to tank.

A dribble of piecemeal support measures from Beijing in recent months has raised questions about the tough choices China39;s new economic leadership now faces over whether to prioritise shortterm relief or long overdue reforms.

Advisers calling for immediate stimulus argue the central government39;s low debt means it can shoulder the burden with municipalities to finance infrastructure and other spending to rev up activity. But proreform advisers argue the stimulus playbook that helped drive growth for decades has run its course and that bolder structural changes to the economy are now needed.

Both camps argue their proposals should be treated with urgency by policymakers, ahead of the annual Central Economic Work…