Whatever comes next in China will be based on the country's traditional value system, which, as MIT's Yasheng Huang emphasizes in his new book, has underpinned high levels of prosperity and innovation in the past. And it will reflect the grit – not rigidity – that lies at the core of China’s political economy.
SHANGHAI – As China grapples with enormous challenges – including an imploding property sector, unfavorable demographics, and slowing growth – doubts about the future of the world’s largest growth engine are intensifying. Add to that China’s geopolitical rise, together with deepening tensions with the United States, and the need to understand China’s political economy is becoming more urgent than ever.
SHANGHAI – As China grapples with enormous challenges – including an imploding property sector, unfavorable demographics, and slowing growth – doubts about the future of the world’s largest growth engine are intensifying. Add to that China’s geopolitical rise, together with deepening tensions with the United States, and the need to understand China’s political economy is becoming more urgent than ever.