Xi Jinping arrives at the G20 Summit in Bali, Indonesia, November 15, 2022. Credit: Kay Nietfeld via AP Images
When President Joe Biden took office in 2021, his first message to the rest of the world was: “America is back.” Having assumed his third term as general secretary of the Communist Party of China (CPC) in October, President Xi Jinping appears to be issuing a similar proclamation.
Over the past two months, China’s leadership has announced or signaled a series of major policy reversals, abruptly ending nearly three years of severe zero-COVID restrictions, easing the crackdown on tech companies and the real-estate sector, reaffirming its commitment to economic growth, and extending an olive branch to the United States at the G20. With the world’s second-largest economy apparently re-opening its doors for business, investors are reacting with enthusiasm.
But, while China’s pro-business reset certainly bodes well for international trade and global peace and stability, putting the Chinese economy on the right track will require more than just a reversal of rece
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When China announced it was ending quarantine requirements for incoming travelers, Chinese people collectively picked up their phones to search popular travel apps like Ctrip and Qunar. Owned by travel giant Trip.com, these apps helped Chinese travelers explore the world pre-pandemic and facilitated the human-to-human interactions that drove China's rise. But many of today's travelers seem to be sticking closer to home, and their hesitation to get back to the jetsetting habits of the past 20 years has far-reaching implications — especially for Trip.com.
The professor talks about China's real estate bubble; if China can develop a modern financial system without rule of law; and why it's not China that is reshaping the global order, but the world's response...
