New Enlightenment The Party & The Market: Understanding China's Economy
Mar 17, 2025
Jeff Henderson, Professor Emeritus of International Development from the University of Bristol, delves into China's intricate economic landscape. He discusses the Chinese Communist Party's pivotal role in fostering economic growth while navigating authoritarian controls. The influence of Deng Xiaoping's reforms is highlighted, showcasing the lifting of 700 million people from poverty. Additionally, the podcast explores China's investments in Europe, balancing economic benefits against national security risks, and the growing competition with Western corporations.
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Early China Joint Ventures
- Jeff Henderson visited joint ventures in Beijing in 1980 assembling American-made Jeep and HP computers.
- The main Chinese input was physical assembly labor, with managerial expertise as the primary technology transfer.
CCP Controls the State
- The Chinese Communist Party (CCP) absorbs the entire state apparatus and civil society into itself.
- In China, state-owned enterprises are effectively controlled by the CCP.
CCP's Role in Poverty Reduction
- Deng Xiaoping's reforms from late 1970s initiated market-oriented policies that lifted 700 million Chinese out of poverty.
- This economic success was orchestrated firmly by the CCP despite introducing aspects of capitalism.
