China Stagnating Under Communist Rule
2 August 2024
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Tax and Fiscal Policy
19 November 2024
Matthew Lesh writes for City AM
IEA Director of Communications Matthew Lesh has written for City AM on the prospects of economic growth in China and the limited potential for foreign investors under Xi Jinping.
Matthew wrote:
“China prospered over the first two decades of the 21st century after it decided to liberalise the economy, allow the development of a private sector and open up to global trade and investment. By contrast, President Xi has taken greater central control, harassed entrepreneurs and foreign companies, cracked down on internal critics, and subsidised domestic production.
“Perhaps most notable is the impact on innovation. China’s tech giants, once the darlings of the global investment community, are facing difficulties from data localisation laws and restrictions on foreign collaboration that threaten to cut them off from the global knowledge economy.
“Perhaps Western leaders can learn something from China’s emerging malaise. Strangling private enterprise and disconnecting from the interconnected global economy have real and negative consequences.”
You can read Matthew’s full piece here.
Matthew’s piece referenced a new Economic Affairs article by Kerry Liu, an independent scholar of the Chinese economy: The economics of China’s Holistic View of National Security: A preliminary assessment.
Matthew wrote:
“China prospered over the first two decades of the 21st century after it decided to liberalise the economy, allow the development of a private sector and open up to global trade and investment. By contrast, President Xi has taken greater central control, harassed entrepreneurs and foreign companies, cracked down on internal critics, and subsidised domestic production.
“Perhaps most notable is the impact on innovation. China’s tech giants, once the darlings of the global investment community, are facing difficulties from data localisation laws and restrictions on foreign collaboration that threaten to cut them off from the global knowledge economy.
“Perhaps Western leaders can learn something from China’s emerging malaise. Strangling private enterprise and disconnecting from the interconnected global economy have real and negative consequences.”
You can read Matthew’s full piece here.
Matthew’s piece referenced a new Economic Affairs article by Kerry Liu, an independent scholar of the Chinese economy: The economics of China’s Holistic View of National Security: A preliminary assessment.
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