Huang Yasheng, who teaches at M.I.T.'s Sloan School of Management, is one of the world's leading authorities on China’s political economy and its financial markets. For another excellent interview with Huang, listen to Neysun Mahboubi's podcast here https://cscc.sas.upenn.edu/podcasts/2019/04/12/ep-17-diagnosing-chinas-state-led-capitalism-yasheng-huang His books, Selling China: Foreign Direct Investment During the Reform Era (2002) and Capitalism with Chinese Characteristics: Entrepreneurship and the State (2008), were landmark studies in how money flowed into China, and how the state often represses entrepreneurship. At M.I.T., Huang heads the China Lab and the India Lab, two efforts to understand entrepreneurship and business activities in those countries. He has a B.A. and Ph.D. from Harvard, and has taught at the University of Michigan and Harvard Business School. His work has been published in The New York Times, The Wall Street Journal and Foreign Policy. What follows is a li