There is no doubt that China’s economy is struggling. After Chinese President Xi Jinping ended the country’s zero-COVID policy a year ago, most economists expected growth to surge—but that never really happened, and deeper problems became apparent. So what are the exact causes of China’s stagnation?
The economists Adam Posen, Zongyuan Zoe Liu, and Michael Pettis each have different answers. China’s future—and the future of the United States’ policy toward China—hinges on which of their answers is the right one.
Foreign Affairs Executive Editor Justin Vogt spoke with them at a November 14 discussion co-hosted by the Peterson Institute for International Economics, of which Posen is president. Liu is the Maurice R. Greenberg fellow for China studies at the Council on Foreign Relations. Pettis is a senior fellow at the Carnegie China Center and professor of finance at Peking University.
Sources:
“The End of China’s Economic Miracle” by Adam S. Posen
Responses to Posen’s article by Zongyuan Zoe Liu and Michael Pettis; Posen replies
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The Foreign Affairs Interview is produced by Kate Brannen, Julia Fleming-Dresser, and Molly McAnany; original music by Robin Hilton. Special thanks to Grace Finlayson, Nora Revenaugh, Caitlin Joseph, Asher Ross, Gabrielle Sierra, and Markus Zakaria.
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Who Killed the Chinese Economy? - Foreign Affairs Magazine
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