New Enlightenment

China’s Economic Rise: Industrial Policy, State Control & Global Power with Dr. Jostein Hauge

Jul 2, 2025
Join Dr. Jostein Hauge, a political economist from Cambridge, as he dives into the factors fueling China's economic ascent. They discuss the pivotal role of state-led industrial policies and how China has become a manufacturing powerhouse. Hauge sheds light on the mixed perceptions of China globally, challenges the 'China threat' narrative, and highlights the implications of China's model for global innovation and competition. The conversation ultimately questions the balance between state control and market forces in shaping the future of economies worldwide.
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INSIGHT

China's Strong Industrial Policy

  • China's economic rise stems from a strong long-term industrial policy and state intervention.
  • The political system's control can be both a strength and a limitation for planning and development.
INSIGHT

Competition Drives Chinese Innovation

  • China's innovation is fueled by intense competition among state and private firms.
  • The state encourages this rivalry, blending socialist control with capitalist market dynamics.
INSIGHT

State Control in China's Economy

  • China exercises state control by dominating its financial sector and directing credit flow.
  • State ownership in key enterprises and trade policies are key tools of this control.
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