Chinese Political Economy: Trends and Transformations

Many see China’s economic development since the late 1970s as a miracle. Without fundamental political changes, the ruling party has lifted hundreds of millions out of abject poverty and engineered the most ambitious urbanization process in human history. Yet, “Yin” germinates inside the “Yang.” Profound economic and social challenges have quietly accumulated in the soaring economy over the past several decades. And they are festering. How will Beijing restructure its relations with the private sector and rekindle its declining confidence? Can it ever stamp out corruption when public-private sector revolving doors are still prevalent? Will it be able to identify new growth opportunities in its Greater Bay area? How will it credibly strengthen financial oversight while continuing to depend on banks to absorb losses and drive growth? How will it continue to finance its global ambitions given current economic challenges? Overall, where is the Chinese economy heading under the auspices of the CCP? This panel brings together scholars from around the world to shed light on these important questions.