China’s Growth Prospects, Part II
Sadly, China is great in good part because its citizens are economically beaten down. Mr. Roberts, I think you're physically unable to utter any criticism of the CCP.
True, but it's still fascinating to know that they did this much. Your piece does fortify the case that Adam Posen wrote recently -- he's another one that I do read whenever I have the chance.
I generally read the Times, Wash Post and FT (also the Atlantic) which I think cover a lot, but I had not seen anything about the Bedaihe meeting and the described push-back, nor the details of Xi's response to it. Maybe just a gap in my recent reading, but whether there is or isn't a discussion of these questions within China's elite seem to me an awfully important topic of the moment. More generally, your economic commentary on Japan has always added a lot to my understanding, so I'm happy to have it on China!
The problem is not going away and it’s a tricky one to effectively transition…
You touched on a few themes around social security that may be some form of prerequisite to transition to a consumption-led economy but I would love to see more details and suggestions on how China could manage this transition - perhaps in your next piece.
Personally, I struggle to see any concrete solutions beyond mass immigration from less developed countries to increase the utilization of infra.
I think Michael Pettis has been banging on about these problems for years but somehow the ship keeps sailing and we have yet to see any large systemic failures.
Hope for Chinas sake that they do manage this without any internal issues brewing.
Enjoying this commentary; fills a gap in what I see elsewhere.