Pekingology China's Bird Cage Economy
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Sep 5, 2024 David Hoffman, a seasoned expert on China's economy and a Senior Advisor at The Conference Board, discusses the intricate dynamics of China's evolving business landscape. He delves into the recent shift towards a planned economy under Xi Jinping and its implications for foreign investors. The conversation also covers the transformation of China's regulatory environment, highlighting challenges for both local and international companies. Finally, Hoffman speculates on the future of China's economy, balancing state control with market forces.
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Hoffman's China Journey
- David Hoffman's interest in China began at UCSD, fueled by a captivating history course by Paul Pickowitz.
- Working at Yellow River University solidified his commitment to China.
Plenum and Planned Economy
- The recent plenum suggests a significant reversion to a planned economy in China.
- David Hoffman analyzes the implications for foreign investors in this changing landscape.
Xi's Economic Vision
- Xi Jinping's economic approach involves strengthening party leadership and control to achieve a planned economy.
- Despite changes under Xi, core aspects of China's power structure remain unchanged.