Multipolarity The Six Ages Of China
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Nov 27, 2025 In this discussion, Philip Pilkington, an unorthodox macroeconomist and author, uncovers the six distinct economic eras of China, challenging the oversimplified Mao versus reform narrative. He explores the transformative Deng reforms, highlighting significant investments in education and technology. The conversation dives into the mercantilist era's role in boosting exports and the implications of U.S. economic strategies. Lastly, Philip examines China's current push for technological supremacy and how state direction fuels its competitive edge.
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Six Distinct Stages Explain China
- China’s development splits into six distinct eras with different economic logics.
- Understanding each stage prevents misreading current Chinese policy and growth drivers.
Mao’s Missteps Taught Investment Habits
- Philip recounts how Mao-era policies forced investment in useless projects like backyard iron furnaces.
- He notes the period nonetheless trained China in very high savings and investment behavior.
Deng's Strategic, Education-Led Opening
- Deng-era reforms combined cautious opening with strategic focus on agriculture, industry, defense and science.
- That education-and-technology emphasis helped deliver rapid takeoff and sustained growth.