Zhang Jun says China's economic success comes from super-large market, competition, and entrepurship rather than the state concentrating limited resources or exclusive industrial policies.
While I do agree that China‘s model may well be misunderstood, I disagree that this is market based. Most obvious contradictions are 5-year plans, the locked capital account, the decision of the 3rd plenum of the 18th central committee and ongoing mass-market manipulation in raw materials by fiscals means as well as ever more wide export restrictions on technologies, which predate the current trade conflict by more than 20 years. In terms of opening up and globalisation it seems, China wants everybody else to open up, while shutting its own doors. In view of current conflicts and the bleak economic outlook, China should take significant, unprecedented, unilateral steps to mend the multitude of non-market conditions. Without concrete action, continuing praying the mantra of openness and globalisation sounds hollow and insincere, resulting in reactions like the walkout during Liu He‘s presentation at the WEF.
While I do agree that China‘s model may well be misunderstood, I disagree that this is market based. Most obvious contradictions are 5-year plans, the locked capital account, the decision of the 3rd plenum of the 18th central committee and ongoing mass-market manipulation in raw materials by fiscals means as well as ever more wide export restrictions on technologies, which predate the current trade conflict by more than 20 years. In terms of opening up and globalisation it seems, China wants everybody else to open up, while shutting its own doors. In view of current conflicts and the bleak economic outlook, China should take significant, unprecedented, unilateral steps to mend the multitude of non-market conditions. Without concrete action, continuing praying the mantra of openness and globalisation sounds hollow and insincere, resulting in reactions like the walkout during Liu He‘s presentation at the WEF.