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[B]ooms and busts is a natural feature of market economies. In the last 40 years China has really never had a bust. ...[B]ust cycles also oust less p… - Keyu Jin
" "[B]ooms and busts is a natural feature of market economies. In the last 40 years China has really never had a bust. ...[B]ust cycles also oust less productive firms and provides exit mechanisms, and that creative destruction... is one of the bright spots... of the situation.
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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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Jin Keyu
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[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.
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At the core... the U.S. China competition is about the China... development model, Chinese aspirations and most of all, Chinese technology, or technological competition. ...[I]t's as bad as it is because of a lack of mutual trust and very different world vision, values and culture, which I think we underappreciate.
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