2021 Dr. Sam-Chung Hsieh Memorial Lecture featuring Professor Barry Naughton

Stanford Libraries and the Stanford Center on China’s Economy and Institutions are pleased to present the 2021 Dr. Sam-Chung Hsieh Memorial Lecture featuring Professor Barry Naughton who will be speaking on The Summer of 2021: Consolidation of the New Chinese Economic Model.
During the summer of 2021, a “regulatory storm” shook markets in China. While the crackdown had its most immediate effects on private education, internet business, and finance, the government has also rolled out new policies to shape manufacturing and infrastructure, and even household fertility and income distribution. In this talk, Naughton interprets these actions as an extension of the ongoing Chinese government effort to exercise “grand steerage” of the economy. The new policies of summer 2021 in fact represent the consolidation of a new model, in which the Chinese government decisively steers a predominantly market economy.

[@kalipotmeng]

Tremendous insights! Too bad that only few people listen to this and millions read other propaganda!

[@still8mee]

This was a very good western summary by an analyst who recognizes how much China has accomplished and the positive and negative consequences of the policies that underlay these accomplishments. I say "western" because in my opinion there is a bias towards the efficacy of "markets" understood in the "developed" west that by comparison with China over the last 20 years has generated an historic disparity in income and wealth distribution in the west. Having said that, the same phenomenon has occurred in China such that the CPC appears to have adopted the "Common Prosperity" nomenclature to highlight this disparity in China. The CPC is the communal representative of China's people. It is the defender of the Chinese polity's ability to avoid the worst effects of the financialization of its economy, understood as the necessity of preventing its domestic capitalist private economic power from capturing the governing institutions. Such regulatory capture in the west has, for example, undermined all the western memes of "democracy" and the belief that "free markets" are the necessary and sufficient condition for "political freedom " as well as public health, safety and welfare. I suggest the inability of the US to develop a response to China's resurgence other than to organize the AUKUS initiative is a "tell" regarding the threat that such a dynamic Chinese polity poses for a declining west.

[@ckcdoer]

thx🙏🏻

[@wenling3487]

good old hand, credible

[@paolocensi1162]

Very interesting talk. As the speaker seems to highlight the negative in the proliferation of objectives and instruments applied, let's assume that the measures adopted in the summer 2021 will not bring common prosperity...what if they will create a serious reduction in Chinese economy growth? How would Xi's government react to that? would that be a catalyst for China to become more aggressive with other nations? After all that is what most governments do when they feel they are losing internal approval rate. Push the blame on others and distract public opinion. As an unrelated comment, I would love to hear a mirror talk by a Chinese professor analyzing the changes in US policies going from Trump to Biden.

[@Andy-P]

Michael Pettis twitter sent me here

[@lachua99]

Andrew Batson sent me here.😎

[@thomas1025]

工农兵大学生们 素质极为有限