Deepening confrontation between China and the U.S. reflects an outdated Cold War mindset on both sides that is utterly unsuited to today’s global challenges.
Entering the 'Great Tides Surge Along the Pearl River: 40 Years of Reform and Opening Up' exhibit, at the Shenzhen Contemporary Art Hall. Credit: Red Guosam ZhuGuang01 via Wikimedia Commons
In his 1944 classic The Road to Serfdom, the Austrian economist and philosopher Friedrich August von Hayek warned that central planning and public ownership would inevitably lead to hardship, oppression, and even tyranny, while free markets would naturally maximize general welfare. The same year, in The Great Transformation, the American-Hungarian economic historian Karl Polanyi offered a very different picture, arguing that market forces and society are locked in a kind of struggle: c
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After years of planning and investment, robotaxis are finally hitting the road in China. Accidents and the impact of self-driving vehicles on employment remain concerns, but the government remains committed to developing the industry into a global leader.
China’s five-year long property market woes have transformed the sector, but there are signs the government is determined to arrest the slide this year.
The economist explains why local governments’ debt woes are the key to China’s economic issues, and why the country could do with more Taylor Swift concerts.
Now on podcast platforms everywhere, The Wire China hits the airwaves to take you behind the scenes of the stories we cover each week. We are dedicated to understanding and explaining one of the biggest stories of our time: China’s economic rise and its influence on the world.
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