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China’s economic story... serves as a cautionary tale. [I]n 1978... it began... major reforms... people were mired in poverty. In... ensuing decades,… - Keyu Jin
" "China’s economic story... serves as a cautionary tale. [I]n 1978... it began... major reforms... people were mired in poverty. In... ensuing decades, hundreds of millions... were lifted out of poverty. ...But ...[at] a high price ...below-market wages... low... return on... savings... cheaply built housing... environmental degradation and wasted resources... based on a high-cost, high-growth model.
A poor nation with ambitions... taking shortcuts. ...Rules and regulations ...bent ...to foster GDP growth. Unfair competition... between... insiders... and the... people... countenanced so long as capital flew in, investment grew, businesses boomed, and GDP surged.
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About Keyu Jin
(Chinese: 金刻羽; born 13 November 1982) is a Chinese economist. She is a Harvard-educated economist serving as associate professor of economics at the . She is one of the 's , specialising in international macroeconomics and the Chinese economy. Her research focuses on global trade imbalances, global asset prices and China's economic growth model. She is the author of The New China Playbook: Beyond Socialism and Capitalism (2023).
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Alternative Names:
Jin Keyu
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Additional quotes by Keyu Jin
China's suffering from a severe deficit in demand because of low wage growth, scarring effects of the pandemic and... the real estate. But... because of China's size today, growing at 3% to 4% even, is not a bad thing. If India grows 4 percentage points faster than China from now until 2030, China's still going to contribute $130 trillion dollars of additional GDP more than India... to the world.
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