The Future Direction of China’s Economy - Panel Discussion: Yasheng Huang, Paul Sheard, and Tao Wang
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- เผยแพร่เมื่อ 21 ต.ค. 2024
- NEW YORK CITY, November 15, 2023 - Amidst declining net trade and foreign direct investment (FDI), a deceleration in infrastructure and capital investment, and persistently low consumer confidence levels, the question arises: What will fuel China’s future economic growth?
Notably, total factor productivity (TFP) growth in China has seen a significant slowdown in recent years. In this context, the dual influences of technology development and China’s aging population are pivotal factors shaping TFP growth and, consequently, GDP growth in China. All these factors have implications for China’s role in the global economy.
China Institute holds discussion with internationally-renowned economists Jeffrey Sachs, Yasheng Huang, Paul Sheard, and Tao Wang to draw analyses and insights following President Xi's meeting with President Biden in San Francisco.
This program is coordinated and moderated by Susan Yuqing Feng, Director of Programs, China Institute.
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Watch the keynote speech by Professor Jeffrey Sachs here: • The Future Direction o...
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It’s interesting that Mr Huang admitted that China’s economic factors are fantastic, towards the middle of the video. Then he went on to assert his “best” and final argument: the “autocracy” factor That is his when-all-else-fails argument when he senses that the rest of the panel has essentially contradicting and questioning every points he has made.
So, there you go. It now boils down to “democracy” vs “autocracy” regardless of everything else. If you don’t follow the west’s liberal democracy model, you’re doomed to fail, no matter what. It’s a religion; it’s written in the stars; it’s the law of this universe.
Give me a break!
Chill out, dude. Everyone knows Yasheng Huang is just another Gordon Chang. No need to take him seriously.
@Lizi. You and I know that. I don’t know if everyone knows that.
Huang and Chang make a pretty good living doing what they do. There are some key differences between these two fellas. Chang knows he’s lying and he doesn’t give a damn. Huang is a different cat. He suffers an inferior complex believing blindly that western values and systems are superior.
Autocracies don't have independent institutions or inclusive societies. They will reach a certain scale of development and struggle to get out of the middle income trap. Unless they have abundant natural resources.
@@lizijian1212he’s definitely not as crazy as Gordon Chang though…that is next level insanity
@@iamsheep Ha, I would say he is worse given his title as a tenured MIT professor.
The dichotomy US democracy/innvoation v Ch autocracy/lack of innovation is false. US is a plutocracy and innovation is consumerist rather than industrialist.
Interesting but I would work on y’all audio capture :)
+ 1
I'm so tired of mere diagnosis in terms of Chinese economics. What we need is a focus on strategies to restore and improve the situation. I think Xi should try to secure a financial sector bailout from the Fed in exchange for FP concessions in the S. China Sea and Taiwan Straight, and directly approach both parties in Washington to see if foreign policy giveaways can buy better trade relations. The Politburo should issue an investors' bill of rights, should institute income taxes on upper incomes and property taxes, esp. on commercial property. in order to break the speculation-to-provincial-govt-revenue link. The PRC should adopt its own FDIC, which could prevent the horrible effects of many depositors not being able to withdraw their money amid the collapse. The PRC should also strictly enforce order of liquidation procedures and solvency/insurance requirements to make sure that workers are always paid, since their spending is vital to demand. The PRC finally should do everything it can to promote internal demand, whether through extended unemployment benefits, entry level salary support, education stipends, etc.
Would not happen bcz CCP is too greedy and want to concur the world via technology thus over use of supply side economics, espionage, dumping etc. Not care a bit about poor people.
The host dominates and should give far more time to her guests.
To me, Huang is an empty shirt. Only regurgitate what DC elites like to hear.
👍👍👍agreed👏👏👏
Who should we listen to instead?
@@sumanadasawijayapala5372
Another Huang, but Yukon Huang. Dr. Yukon Huang recently spoke at Institute of China America Studies (ICAS) in DC with Paul Triolo.
Just like prof Sachs that Beijing likes to hear.
Somewhat interesting discussion, pity you could not find one panel member actually living and doing research in China.
Tao Wang is living and doing research in China
Economic development is always engined by private sector, and this is why Deng Xiaoping had to reform and privatize the economy.
Of course, the state-owned sector is needed but to provide public goods.
最好的方法就是大幅提高最低工资标准，适当减少企业的赋税。这样可以增加民众的消费力的同时控制企业的经营风险。一个强有力的经济体必须要有强大的内需。中国没有罢工也没有工会，所以只能靠政府强制增加工资标准。
1:25:55,1:28:09
China’s problem is always the rigid and miraged philosophy and ideal of sociology.
A Forum of wishful ,malicious and misinformation n smearing
Not the same bubble 😅
Down.
Stark contrast: American let Phillipine to go independent after world war II. PRC China 2023 cannot give up the idea to invade ROC in Taiwan independent government since 1949.
SsTtUuPpIiTt!!!
You are comparing Apple to Orange. When US gives up its South which it failed to do in its own civil war, then US can ask PRC to give up ROC/Taiwan, the unfinished Chinese Civil War.
My roots is from Taiwan. I know Taiwan is a part of China main. The status quo of peace and progress is fine but not to be a proxy of the US hegemony to attack China. What about your roots?
Get real, dude! White America doesn't want more colored folks. Take a look at how long it has taken Puerto Rico to be our 51st state.
The craziest part is that the island of Taiwan has a very weak history as part of the mainland nation. Prior to the Japanese invading, during the Qing it only served as an outpost for a small number of Chinese, while the majority were Austronesian Taiwanese natives who did not speak or understand a Chinese language. The Qing dynasty also never succeeded in colonizing the island. They tried encouraging people to move to the island when the Japanese started making incursions in the 1870s, but a significant number of Chinese never moved there during the Qing.
Get ur money out of China while you can.
The decoupling is happening. It needs too. Chinese government is a criminal enterprise of international theft and espionage.
Yelp, and there's a sucker born every minute. LMAO!
And put it where?
@roro4787 🤡
@@siberiantiger1585put your money in the USA and watch your investments get reduced to ashes 😂