While China is probably in a much better position than bearish observers claim, the economy would benefit if Chinese households saved less and consumed more.
Chinese Finance Minister Lan Fo'an speaks at a press conference on the sideline of the National People's Congress, Beijing, March 6, 2024. Credit: Ng Han Guan via AP Photos
Economists have lately been sounding the alarm that China’s economic development is teetering on the edge of a crisis. The problem, they argue, is that China’s growth is driven by extremely high levels of capital investment, and that private consumption is being suppressed. Is a crisis really looming, as many predict?
It is true that China’s growth pattern could, for decades, be characterized as investment-driven. Like most East Asian economies, China supported devel
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In a special bonus episode recorded live at the Asia Society, host Jane Perlez speaks with journalist and scholar Orville Schell about his 50 years covering Chinese leaders and their American counterparts. They attempt to answer the question: how did we get here?
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