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" "[C]oming back to the recalibration, look at trade. Yes, U.S. and China's structural trade is declining, but... it's just being rerouted from Vietnam and Mexico, but ultimate sources of demand and supply are still coming from the two largest economies. It's just taking a much longer route and adding to the trade costs. And it's going to add to the cost of innovation... to the cost of inflation... [C]oming back to the American voters... ultimately defining this year's election is still going to be overwhelmingly pragmatic about the everyday livelihoods of these people.
(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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[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.
In China, an interventionist state is rooted in , a hallmark... since Confucian times... intervention by a senior... is justified if it benefits a junior... This helps explain the... government... [urge] to steer the economy rather than just... markets... [a]nd... provides a rationale... to liberalize slowly... avoiding... risks, in contrast to... former Soviet bloc economies.
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