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
Project Syndicate - 14 Nov 2017
For those unfamiliar with China’s economics and politics, this article does a good job of taking stock of what happened at the 19th Party Congress and of explaining what lies ahead with a 30-y time horizon. The vision is clear: China wants to become a high-income economy by 2035. The main stumbling blocks are: income and wealth inequalities, and aging (by 2050, 36.5% of China’s population will be over the age of 60) (reads in 5-7 min).
Published in Weekly selection 24 November 2017