Responsiveness and Challenges of the Chinese Political System

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The Chinese political system is partially responsive to societal needs due to the acceptance of the idea that state legitimacy depends on job creation. However, challenges are emerging, such as the excessive power of internet success stories and unicorns in society, which makes the party uncomfortable. Despite this, many other political systems formally labeled as democracies may lack the mechanisms for useful conversations on public issues.

Yascha Mounk and Ricardo Hausmann discuss development economics and how globalization has changed the nature of knowledge.

Ricardo Hausmann is an economist and the founder and Director of Harvard’s Growth Lab and the Rafik Hariri Professor of the Practice of International Political Economy at Harvard Kennedy School. Hausmann has also served as Minister of Planning of Venezuela (1992-1993) and on the Board of the Central Bank of Venezuela.

In this week’s conversation, Yascha Mounk and Ricardo Hausmann discuss the effect of globalization on social stratification; how “brain drains” and immigration can have counterintuitive effects on growth; and why we may often overrate the economic effects of corruption.

This transcript has been condensed and lightly edited for clarity.

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