Keyu Jin Quotes

China wants to shift its production structure, but imbalances in... trade is not just a commercial policy. It's... an imbalance between s and investment, and it's not just due to the currency or trade policies that will solve these imbalances.

After reading Jake Sullivan's reviving national American economy, it sounds... like the China model with industrial policies, subsidies and a huge national boost... The China model is about having a unique coordination between government and markets... individualism and communalism...

China has made the... quantum leap... from US$380 to US$10,000... over... four decades. The second... is to go from US$10,000 to US$30,000... [M]uch... speed of China’s achievement can be ascribed to catching up. But unqualified success... will be... when... 1.4 billion... reach... high-income status, particularly... in a political environment... antithetical to... Western conventional wisdom. ...[H]alf of the most prosperous people in the world... living under Communist rule—not... predicted... when the Berlin Wall fell.

[T]here are still... 870 million people with a monthly income below RMB 2000 (...US$300) ...yet to join the four hundred million in the middle-income group ...by Chinese standards ...RMB 2000—5000—far below the advanced-economy average. ...[A]n enlarged middle-income group ...is the only way to truly bolster China’s consumption engine.

[Y]oung people are big spenders, prodigious borrowers... the potential to unleash trillions... into the global economy... [t]hey are... more open-minded and socially conscious... However, ...less suited to Western-style democracy ...[D]eeply layered in the national psyche ...steeped in their ...culture ...traditions, and rooted in their ...communities ...ushering in an era of economic... without political liberalization...

[T]here's one fundamental misunderstanding about the Chinese from the American side... that China's sole goal is to try to overtake the U.S. That is not the Chinese aspiration. The Chinese people, with a billion people still trying to have a better life... It's overwhelmingly pragmatic. Chinese people... still think about getting an apartment in the cities and sending their kids to school... [T]hat is the ultimate source of legitimacy, also, for the party. When we talk about war and all that, it's about peace and stability, which is the best conditions to make that happen.

[W]e can... do our best to rise above... sensationalism, stereotypes, and es. Only then can we engage with China in a measured... effective way, critique... and ask good questions. Until we do... we will... get China wrong... when... common purpose has become crucial to addressing... existential threats...

Chinese state... power... [and unparalleled] instruments... can... steer, manage, and push the economy... any direction. ...Policy directives, rules, and regulations can be set with little political obstruction. The state can scrap old rules and make new ones overnight... granting or denying... approvals and licenses, or leveraging the to serve a... goal. ...Internal controls and competition curb corruption. ...[C]ivic society holds ...government ...accountable ...Social media ...embodies a two-way monitoring platform ...

President Xi recently said, We hope that America would be prosperous, and hope that the U.S. would wish China to be more prosperous as well. I think that does send a message, but I do think that the two countries are recalibrating the relationship, learning from what has happened. I don't... think there's a set, specific idea of how it's going to look...

COVID-19... in early 2020 China chose to save lives and forsake economic output... the West... swinging the other direction.

[F]or those who think that China’s all-powerful political party and numerous s (SOEs) point to a state-dominated economy, consider... [T]he ... accounts for... 60 percent of national output, 70 percent of the nation’s wealth, and 80 percent of urban employment. Thirty years ago, it was the other way around.

[T]he backward homeland of my childhood has become the world’s second-largest economy... massive new cities... astonishing technological wonders. Yet... the world is... asking the same questions... comparing China to former Communist... autocratic... repressive regimes.

[I]ts model... embodies a... blend of the state and... market economy, striking a balance between state and industry, coordination and market incentives, communalism and individualism.

China’s economy faces major challenges... Catch-up growth is... different from innovation-based growth.

[I]n China, innovation and have been defining features... despite socialist characteristics... It has found a way to combine private and state forces...