May 20, 2020
Dexter Roberts joins the podcast to discuss his book "The Myth of Chinese Capitalism."
In Roberts' view, economic reforms have already been curtailed under current political leadership. China's middle class, which has grown almost exponentially in recent decades, remains limited mostly to large coastal cities. The rural countryside, which still represents half the country's population, remains well below the middle class -- and is stuck there, in part due to outdated demographic policies.
The options for Chinese policymakers are limited. They have so far not managed to spread the wealth effects of their "pivot" to a services-based economy, and may have even exacerbated the problem. This all has wide-ranging consequences: for China, for western companies, and for the world.
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