Happy Lunar New Year from the USC US-China Institute!
The Two Chinese Models of Development
The Stanford University Center for East Asian Studies presents a discussion of China's economy as a bi-phase growth trend
SCID and SCP present a special seminar with Professor Xiaonian Xu
The Chinese economy has grown so fast and for so long. But the “miracle” has started fading in recent years. Why? Prof. Xu argues that the reform era can be divided into two fundamentally different phases. Phase I, from 1978 to the mid-1990s, is characterized by market-oriented reforms, whereas Phase II, from the mid-1990s onward, is dominated by government-led investment and interventions. Though China’s growth performance looks identical in numbers over the two phases, the source of growth has changed from efficiency gains to increased use of resources. Phase II growth is thus unsustainable, and worse, it has brought about structural distortions that severely undermine the economy’s growth potential. To maintain growth even at a moderate level, China needs to go beyond what the leadership has promised and planned.
Featured Articles
We note the passing of many prominent individuals who played some role in U.S.-China affairs, whether in politics, economics or in helping people in one place understand the other.
Events
Ying Zhu looks at new developments for Chinese and global streaming services.
David Zweig examines China's talent recruitment efforts, particularly towards those scientists and engineers who left China for further study. U.S. universities, labs and companies have long brought in talent from China. Are such people still welcome?