Project Syndicate - 5 Apr 2018
Yes! The Nobel laureate offers an intriguing response to one of today’s most fundamental questions. In his view, Western governments have for decades protected incumbent firms at the expense of new market entrants. As more and more Chinese companies are realizing that they must innovate in order to get – and stay – ahead in the global economy, he argues, the West urgently needs to change course, or risk being left behind (reads in 5-6 min).
Published in Weekly selection 7 April 2018
The Guardian - 18 Feb 2018
For quite a while, the Chinese authorities have been pursuing scientific dominance with systematic resolve. Their massive investment is now paying off with serious advances in biotech, computing and space, so much so that it may be edging ahead of the west. This article makes clear that "The patronizing old idea that China, like the rest of East Asia, can imitate but not innovate is certainly false now”. In an increasing number of scientific fields, China is starting to set the pace for others to follow (reads in 9-12 min.).
Published in Weekly selection 23 February 2018
Bloomberg - 26 Nov 2017
Pettis, one of the most astute economists writing about China, goes against the consensus advice of international organizations by arguing why liberalization might hurt, not help in the battle against debt. His argument is twofold: (1) China must deleverage by forcing local governments to liquidate assets and assign part of the proceeds to debt reduction, (2) opening up the financial sector would only further accommodate distortions and worsen the misallocation of investment (reads in 7-9 min).
Published in Weekly selection 1 December 2017