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Yasheng Huang on the Development of the Chinese State
Conversations with Tyler
The Biggest Misunderstood of Chinese Economy
I read so many experts insisting that China should rebalance its economy toward consumption. The bigger issue, I believe, is the fact that the household income share of the GDP is very low. And that gets to a deeper issue about essentially the power of the government vis-a-vis the household. That's a bigger political economy question than a narrow fiscal issue.
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