Critical Issues Confronting China - Professor Keyu Jin - December 6, 2023

Critical Issues Confronting China series
China's New Play Book
Keyu Jin
Professor of Economics, London School of Economics and Political Science
with
David Yang
Professor, Department of Economics; Director, Center for History and Economics, Harvard University
December 6, 2023
In the final Critical Issues Confronting China talk this semester, Keyu Jin, Professor of Economics at London School of Economics and author of The New China Playbook: Beyond Socialism and Capitalism, shares her analysis of how perceptions of China’s “high growth and high cost” economic model have shifted. The discussion following her talk was moderated by Harvard Professor of Economics David Yang.
Jin highlights the role local governments have played in fostering economic growth and innovation, particularly in emerging sectors such as technology, and points out the continuing challenges such as overcapacity and misallocation of resources. She emphasizes the need for reform of China’s financial system to support the private sector and a move to a more market-driven economy. Ultimately, Jin argues that China's economic model needs to adapt to meet the challenges of a new era.

[@2-worlds-on-earth]

Well presented..😊

[@joshuaeko]

Insightful explanation 👍👍

[@haijunpeng3848]

Economy can't survive without politics. The key takeaways in this talk.

[@chikeongtan]

Only professor can be so naive

[@harbinger6562]

A difference in politics and manufactured drama 🤔♥️

[@vivektnl]

insightful analysis of the chinese economy

[@62gkm]

Western elite class and all others discuss, debate about China, China, China as if they don't have any other work to do.

[@mikeboate208]

Bill. S-429 countering Chinese Propaganda Act 500 million. “ slush fund to bad mouth China . It is not moral or ethical, but it’s a pretty good living .

[@blessnorthamerica7919]

😂😂😂😂😂😂

[@pbrlpgu5601]

As their opinion ,all local issues are china's fault. They get whatever they want just by blame China and they don't need to resolve their local problem

[@Andy-P]

The size of China's economy makes it important to the west. It's opaque nature makes analysis difficult

[@lucaslu5485]

😂😂😂They do have nothing to do

[@nmew6926]

In US it's only the defense industry which is decentralized. Every 52 states have its share of weapons production. So every congressmen of each state have interest that US create and fight wars worldwide

[@theonlycaulfield]

Only when compared to what?

[@Andy-P]

With China's best friend actions in Ukraine and China's in the SCS then they should all be doing very well.

[@hjiang3828]

Mature question with key point for that panel! The retired professor asked!

[@erlhapp1091]

Very smart lady. Normally I increase speed to 1.5. Here, I'm looking to pause, take in the data. The efficacy of the traditional models for decentralization and rewarding your mayors for coming up with the goods is apparent. Sadly, in Australia Mayors get elected without reference to performance. About 30% of electors bother to vote. Result is very subject to special interest groups that get active on particular issues. Councilors in local government avoid making any statement that might offend. They bend and sway like a blade of grass in the wind. This is a recipe for stagnation. I was impressed to hear a Chinese mayor say that when he sits in his office, he sees only problems and when he gets out amongst the people, he sees solutions. Reflect on that. Very smart people at the center are aware that the solution to all the problems is at the street and community level.

[@peterk5981]

Thank yuu for an excellent comment, I also thought about finding solutions to the problems at the street and community level. I think China is very good at this type of solutions, paradoxically being centrally planned economy.

[@pbrlpgu5601]

All Chinese Mayors are all promted form small towns or companies who has a talent in economics. Chinese offical upgrading system is a much efficent and useful than that in the West of selective one

[@harbinger6562]

Thank you ♥️😇👋

[@eugenezhang1378]

Professor Jin is so brilliant! She really presents a true picture of Chinese economy in contrast to those so called China experts' views.

[@user-im5wc4bn3v]

CPP sponsored expert

[@mimiginkgo]

wumao rhetoric

[@yongdeng1813]

LOL the 2 clowns above are the NGO members…

[@peanut0brain]

​@@user-im5wc4bn3vwhat u doing here clown? If u don't like this version of the truth then get lost to your CNN fox

[@CHAMONIX552]

What truth?

[@miraclelment]

Prof Jin talks very fast, that's pretty impressive. I could hardly crunch much of the displayed info on the screen concurrently while my brain was having to catch up digesting her speech. More impressive is her ability to take 2 questions at a time and answering them consecutively, and very fluently, with perfect answers. That's like a human equivalent of quadcore or multicore microprocessors!

[@user-im5wc4bn3v]

It's all ****. Typical CCP propaganda

[@cinpeace353]

Try adjust playback speed in setting to the speed that you prefer.

[@Andy-P]

I went to this talk in London a couple of months ago. Most of the audiance were Chinese.... and they were not convienced.

[@seafood_hater]

@@Andy-P Which part were they not convinced?

[@Andy-P]

@@seafood_hater They were not convinced that the 'new play book' is that new. Actually in this talk she does admit that.

[@fredfrond6148]

Longi solar just prototyped the most efficient solar panel wth a 33% efficiency. Twice as efficient as ones currently being produced and beating a recent German record of 22.5%. Can you imagine if they start pumping these units at scale?

[@HermanWillems]

can only just buy 21% efficient solar panels from them right now(like most other brands). It's only words until i have the in my hands.

[@fredfrond6148]

@@HermanWillems agreed but 21% is better than a few years ago.

[@huatchyetan8830]

Very insightsful overview of the China's geopolitical economic development

[@TH-et3de]

Professor Jin is a true Economist.

[@mimiginkgo]

wumao

[@Lotusflower888]

@@mimiginkgoonecent

[@jiaxinchen6467]

​@@mimiginkgo So what label should I put on you? Are you unable to argue with data, facts, and simple logic? 😂😂😂

[@patriot1564]

No, she is a speaker for CCP.

[@patriot1564]

@@jiaxinchen6467 Arguing with data, facts and simple logic is easy, my concern is where she got those stuff? Who can guarantee those numbers are accurate? That nation is full of cheating everywhere.

[@user-kn2is2et8q]

金教授不愧出自名门，且能潜心研究中国的经济。她不仅展现了中国青年一代的才识，也为世界了解中国做出了贡献。

[@arcencielc2065]

There is a need for more such Chinese intellects who are based overseas so that the West and its people have a better chance to access to their talks which can help them understand China.

[@patriot1564]

Propaganda, we don’t care what she says

[@weer5380]

God! She is so smart and full of energy.

[@zhuangdavid5037]

what do you really mean?!

[@tsengenhu6494]

I would like to hear about what effort has been taken to mobilize the financial system so that business could get credits and fundings.

[@SwimAndUniverse]

It is those subtleties that matters here. They are so subtle that you need good judgement and deep knowledge to discern. So be careful and use your critical thinking skills, before accepting things as truth.

[@samsun01]

You're projecting, son. And CIA pays you pennies so could you respect yourself just a tad more and make yourself more useful?

[@zhuangdavid5037]

when study China, people in USA like to describe China as a communist country. That is nature given the fact it is related to the name of ruling CCP.. China is a socialist country, but more than that!! The Chinese civilization from early year dating back 5000 yrs is basically anchored on Daoism and Confucius thinking. Daoism is the root, well known for its holistic worldview, balance, coexistence and dynamism, while Confucius thinking has idealistic goals to instill virtues.into people for being learning person that are both humble and self reliance ,.and attempt to construct harmony on self, family and society. These two streams of unique thinking are gifts from Chinese civilization to current troubled world

[@Andy-P]

China has an autocratic Goverment that doesn't share the same values as western democracies and want to change the world order so autocratic values are paramount. That's enough for people in the USA. If they want to find out more there is the free press. Where they can listen to CGTN if they want. Or if they read Chinese can read the Global Times where America is demonised.

[@zhuangdavid5037]

​​​​​@@Andy-P Don't label for ideological and political currect reasons.The so called "western values" has its reason to exist, but not a god, certainly not super value imposed on everyone in the world. Anglo-Saxonism is both selfish and narrow minded with war mongering zealousness rooted in its antidualism, colonialism and expansionism dating back to Crusader... just like you say to someone first that you respect and love, then hate and kill as soon as you turnef your back

[@perrylee1913]

So true.

[@JP-rk6gw]

Let them be their way! Yup China is a red communist. Best example of brainwashing in the world about the red communist.😂😂😂

[@HermanWillems]

Sounds exactly how the west is familiar in it's past with Christianity in Europe. It's mostly used to control humans beneath them, like the Roman Church. That's why religion is a dangerous concept to the CPC in China. Because it does not want another religion to compete. Religion is a way to control people, for example the Bible or Koran. You create a romantic story, and a way of life which is a religion like Daoism and Confucius thinking is a form of religious thinking to control the large population with a small group of people. We the western world have fast experience with this also in physiological manipulation of slaves. One person could control 20 to 40 slaves without them being able to stand up. This is because of psychological tricks. The same goes for Daoism and Confucius thinking it's a psychological trick to control a large group of people. Just like the catholic church did in the past in Europe. We moved on, now it's time for China soon to move on and evolve.

[@HappyDT]

I am never tired listening to Keyu Jin. She is a true daughter of China and yet has the clarity and objective academic mindset to present the true picture of China with truthful facts and perspective.

[@zenlei8258]

She talk without proper knowhow. China growth was helped by Wall Street greedy elite.

[@Andy-P]

Her father, Jin Liqun, is an economist and politician who previously served as the vice minister of finance of China.

[@Andy-P]

@TH-dr1kg The truth.... with Chinese characteristics

[@stevenliew2507]

As compared to Western MSM Manufactured Propaganda and Narratives, her views are so much much more truthful.😂😂

[@Andy-P]

@@stevenliew2507 She will never criticise the CCP

[@RohankrishnaB]

I am always excited to hear from Keyu! Very intresing perspective

[@anwiycti1585]

In her own reality 😂😂

[@RohankrishnaB]

@@anwiycti1585 she is more aware than you ever will be, that's the reality☺️

[@charlesqiu6190]

Me too 😊

[@mimiginkgo]

wumao crush

[@RohankrishnaB]

@@mimiginkgo hahaha 🤣, of course she is attractive but I bet she is not single so it doesn't matter😂😂. Anyways I think she presents reality and grounded arguments so I believe it's good

[@LorentiChau-db3cb]

The profoundly knowledge as well as deep understanding of China from both of you have make me find extremely impressive . I think China has to rebuild the confidence for their internal consumers to spend money . At the same time , to rebuild the confidence with foreign investors to invest and buy are indispensably important too. Hope soon or later , China can pick up slowly and gradually again for the betterment of their economy with new changes.

[@jianlyu2791]

金刻羽的父亲是金立群，是中国共产党指派的亚投行（为中国“一带一路”倡议服务的投融资机构）的领导人，金刻羽有责任和义务唱响中国经济光明论。

[@AmelieZh]

挺好的

[@poopkljok8342]

所以，不看好中国经济的人都是缺少一个行长父亲吗？ 按照你理解，中国经济，无论好坏，本质上不是经济问题，而是爸爸的问题。

[@Mingyu1031]

民族责任比学术独立对金刻羽更重要

[@postrockmag3305]

你真的好幼稚啊...小布什的爸爸还是老布什呢，不还是一样当美国总统。

[@harbinger6562]

Good morning Keyu Jin How are You,♥️🇨🇳🙏😇🌹👋

[@user-qp6wf8vt1p]

Good Job. So cool. Chinese people master English language, and discuss in depth at the best university in the world, about China.

[@yongdeng1813]

Sonubsaying chinese oeople usually dont or cant speak english fluently?? How ignorant is that statement!

[@harbinger6562]

Good morning ♥️🙏😇🌹

[@wankee888]

finance expertise remains Achilles Heel.

[@kabysummit5801]

To my fellows, take a peek at these interviews - "John Thornton Distinguished Lecture: Navigating the future of US-China Relations" "Jeffrey Sachs Interview US-China Relations and Grand Strategy" "Cyrus Janssen American debate: should you fear China" "Hugh White This is going to be different: Learning to live with Chinese Power"

[@ougmass]

When economic considerations conflict with political interest, the latter trumps the first.

[@4eyefishball53]

Don't know if she is trying to squeeze too much info in one lecture or what. It just seems that she was running so fast, somebody was chasing after her.

[@alanliu526]

So the policy advice is reforming the financial system??? At the same time, Chinese government is cracking down the big techs and private sectors. Why does she emphasize such second-order issues?

[@samsun01]

Are you living in a fantasy bubble where your perception of China is based on news you gulp down? You have no clue how economies work. Your grasp of simple concepts is already a struggle, I don't think you understand what China is, son.

[@peanut0brain]

Do u always like to keep ignorant of WHY ccp crack down on big tech blah blah or do u only like the first half of the story , the "crack down " without the "reason"?!

[@Mingyu1031]

Because her priority is not running her own argument supported by research, but to help china lie in whatever way to attract foreign investment

[@buyungadil1]

Taiwanese? Hongkies?😂

[@LiveFreeOrDie363]

Fascinating!!! Great job presenting and helping me to understand the Chinese model(s) to at least a superficial, sky-high-level. So many questions but perhaps my question of choice would be trying to factor in the level of corruption: how much corruption is inherent to the model - theoretically and in reality?

[@monipenny408]

compared to the infamous Biden Hunter "big guys 10%" for every transaction, China would be like 0.00001%, so Biden is doing really well.

[@rich8304]

It toke us 260 yrs and 70 for china? Which system worked best and im a vet

[@tctan5874]

😊

[@gingermintrose]

Keyu Jin can articulate what is so unique about the Chinese economy to make it understandable to Western audiences. Sorry to be suggesting to you, Fairbank Center, please make sure that the podium is not too high. It covers her and the space is not well-lit, and the monitor placement is not conducive to the speaker having to glance at it frequently. It is quite distracting.

[@kl-k1959]

Sounds like most of those asking questions are of Chinese decent. Interesting.

[@yongdeng1813]

Really? How so?

[@Andy-P]

I went to see Keyu Jin talk at SOAS in London recently. 80% were Chinese. Mainly students. There was a westerner who asked some akward questions about the lack of access to the Chinese markets. The rest of the questions came from the Chinese. They didn't have much confidence in what she said. I translate that as not much confidence in Xi.

[@user-hp5bc5cy2l]

Good idas, well presented. 谢谢老师。加油！ 又亲友又清。 One could draw parallels between the red versus expert question Mao discussed.

[@felicisimomalinao1981]

The Chinese have an innate family culture of learning that affects the community - even if they migrate, they pursue the same culture of learning. The US and other EU countries have a community culture of learning. However, in the geo-political sphere, China is like any other. Perhaps, US States should also subsidize or buy shares in tech companies.

[@jameschu512]

Prof should be governor of Central Bank.

[@HYing-iz3sh]

Jin Keyu is a red communist professor in an oldest capitalism country.

[@oak2065]

It is a shame for London Economic School to have a such person as a faculty member!

[@buyungadil1]

You guys still live in the cold war era

[@oak2065]

No，we are now living in the new war era! @@buyungadil1

[@harbinger6562]

Be back ♥️🇨🇳🙏😇🌹👋

[@haodeng9639]

女神，爱了爱了

[@michaelshaw7652]

Prof Jin is a truly expert on China's economy. Western economists, policy makers and media should listen to her carefully.

[@Andy-P]

They do listen. But think her conclusions are very problematic. Xi on the other hand dismisses western theories of economics.... some how China is different.

[@zhuangdavid5037]

I don't mean everything China is perfect, China is far from perfect, it's still a developing countriy with many areas to improve. But China now stands for progress, peace and development, helpful to many South countries, yet USA are more backward and narrow mindef, prone to warmongering, and interventionist on other countries.

[@eligiobrosas825]

U R wrong in ur understanding matters like in SCS & WPS , PRC-CCP under Xi Jingpin particularly PLA was instructed to do HEGEMONIC ACTION TO Phil EEZ as ruled by 2016 arbirtral award. Chinese didnt honor or accept this international ruling in which China is a member of UNCLOS

[@Andy-P]

China isn't helpful or peaceful when it comes to the Phillipines.

[@Jiidwag]

Not “interventionist”, AmeriKKKa a 3rd world sh*thole country practices IMPERIALISM

[@HermanWillems]

China being pretty agressive to: Japan, Philippines, Taiwan. And try to put their influence in south asian countries like Laos Cambodja and Thailand to infiltrate in them. And now also putting soft pressure on Russia before China was not allowed to use Vladivostok, but now under pressure China got it's will because Russia is in a corner regarding their war. And China wants parts of Russia very badly, and will become aggressive again Russia. Also aggression towards India and controlling it's water.

[@umarjongi3590]

@zhuangdavid5037 As a latino, I agree with you.

[@lokaskarak3442]

Everyone talk talk talk but when ask them to lead they flop

[@miraclelment]

I agree with Prof Jin's research and point of view. But I don't quite understand what the moderator meant (at around [1:02:14] ) by (quoting him): "You can deprive innovation from government support... and China is unique in doing so"? And I definitely don't agree with his following comment, quoting him: "I don't think one can think of any major technological breakthrough anywhere in the world in the last five 50 years where government does not play important role in a matter." Is it English or grammatical problem in his sentences, or logical problem as well?

[@wpgc2]

3:30 She should clarify on the data used in the presentation. Working populaition is around 770 million, so 900 million is probably referring to entire 1.4b population. That translates to upto 250 million working population under $300 USD a month. In comparison, US's working population is around 160 million.

[@AthosRac]

There are kids and elderly people too. They do not work....so.

[@peterk5981]

US working population is around 160 million??? Have you forgotten about millions of people on welfare and former military?

[@wpgc2]

@@peterk5981 I don't know but there is no point to go into micro details. I pulled the numbers from Statista so there should be some consistency for the purpose of comparison. My key point is Prof. Jin should clarify how the 900 million is derived from. China has around 960 million population in age 20 to 70. I will be quite surprised that less than 10% of this pouplation are making more than $300 USD a month. It makes more sense that this is based on entire population.

[@terencenxumalo1159]

good work

[@udhayakumarMN]

Is she sister of Selina Wong??

[@alinthemind]

China's considerable anticipated growth is propelled by their worldwide dominance in technology and manufacturing in electric vehicles and renewable energy. This business sector is poised to be global and export-oriented, unlike the IT industry, which is expected to remain localized due to data privacy and regulatory constraints.

[@thedailygreatness]

EV's are dead in the water and once Climate Hoax is fully exposed this entire "green, renewable" bullshyt will officially become the greatest boondoggle in modern history. Seasonal energy supplies will be useful in areas where they are actually cost effective, not subsidized.

[@ErenYega747]

Comments full of accusations of propaganda rather than specifically arguing her points or producing evidence that refutes her. She comes prepared with evidence, she does the work. Bringing accusations and saying everything is a lie is a convenient cop out to putting effort - it’s lazy

[@jamesstmanhattan]

I thought Harvard was crimson - turns out it's redder than red.

[@happyhappynuts]

No mention her father os high up in CCP and she spouts CCP talking points non stop, a velvet glove over an iron fist

[@yongdeng1813]

😂 u can either do something about it or go cry about it!

[@MrChenjinyuan]

Again the jealous and hatred of anything Chinese and the cloned stereotype responses of China haters. Basically saying that white people are superior and nothing that comes out of Asia can be any good. U will never wake up to the reality which is your time of colonial superior is dead and your economies are the ones that are really in stagnation and decay. The new world order will carty on trading and growing with or without you

[@aaabbb8777]

She is beautiful. And she speaks so good english.

[@xiwenfan1765]

The lecture is great but it would be much more helpful if the recording system is upgraded

[@deepakpunia2188]

Failing real estate... Not highlighted as major concern of slowing economy...?

[@andersjohansson1889]

She is so pretty I didn't understand a word of what she was saying. 😃😃😃

[@buyungadil1]

Me too

[@TheAnthonyChius]

If you cannot survive or making money in China and then go aboard to criticise Chinese policies (whatever policies are ) and you will get fully support from "NGOs" to survive and will not to be homeless on the street at this moment

[@shermansaxton3651]

I’m In love her mind, as well as your beautiful ❤

[@georwoogle]

👍👍👍

[@vancloudguy]

I would propose that one read the Brundland Commission report "Our Common Future " as a backgrounder to help understanding the Chinese Development model.

[@adamiskandar5107]

That would put an end to accusations that China is secretive and non-transparent.

[@Andy-P]

Have read a precis of it and what am I missing regarding Chinese debt driven infrastructure now manufacturing investment model?

[@Tommy_taipei]

how come the stock prices are falling in HK and Shanghai index

[@ougmass]

Such tension between central and regional or legal exists in many economic models, it is not unique to China. The question is how to balance it, and manage it, furthermore; opposite interests exist in many countries. Reckless behaviour? How about recurring financial market crisis affecting lives of millions of people round the World.

[@lostinmuzak]

I do have to say that there is no other country gets more talked about in US than China. China China China. It does get a boring to hear about China’s economic situation after 59 times. lol. There are other countries and regions in this world. They matter more to US now than ever before now that everyone is quite clear about China’s view of this world.

[@user-ed9so2rb4k]

Couldn't you just switch off? and save brain?

[@yongdeng1813]

Well then i dont know whybu even hear to listen and comment… u should’ve left the moment they started talking about china. And for the record, chinese econmoy matter more than any other nation in the world for the USA, beside there are only 2 other things to talk about around the world, those are ukarine and Israel. 🙄

[@bridgeroad9758]

China has collapsed many times, so leave it alone, focus on the huge problems US is facing.

[@mimiginkgo]

wumao never fails to annoy

[@patriot1564]

I more care about those senile people living in poor countrysides. Do they still worship China Mao and CCP? You should stop your propaganda

[@taijistar9052]

The so called “major economy” is now the problem, not an advantage any more. Local governments promote investments is now the root of over investment. Since the local officials are looking for power and short term economic shows, not long term economic benefit, there are extraordinary wastes and repetitive investments. That is why most local governments supported investment will not like make any return on the investments and eventually becomes their burden.

[@perrylee1913]

Local government does not directly do business, but based on their assessment they can go solicit business that they think the best to fit to their local capabilities and talents. If local government doesn’t have any idea of developing their local economy, there is no chance that the leaders can get a promotion.

[@thewishmastur]

Could hardly hear the guy

[@rich8304]

Capitalism and communism combined will we ever find the answer

[@4eyefishball53]

She was there just to promote her book

[@AmelieZh]

之前学经济都没有出路的，现在多有用

[@SeanPan-it3jm]

💕

[@okazaki111]

There is a big challenge there. The biggest challenge is If the wise man makes a mistake in his advice to the naked king, there is no guarantee of his life. Despite the fact that problems continue to pile up that are too difficult for a single dictator to solve.

[@Eyy7072]

Maybe not as autocratic as you think. At the same time, too many cooks could spoil the broth

[@yongdeng1813]

@@Eyy7072great answer! Let the west figures out china if they dont wanna listen to a chinese, your mind, your choice right?!

[@guafa-hh5ee]

In fact, everything in China is not decided by the president alone, he is not an expert in all fields. As in Western countries, the president has a think tank, and important issues are reported to the president after expert research, and the president is responsible for issuing orders. I got to know the people around the Chinese president, most of them are economists, from which I can see the president's efforts to solve economic problems

[@Andy-P]

@@guafa-hh5ee I thought Xi "thought" covered everything. Hence Xi is the Chairman of everything

[@taichi7694]

The biggest problem with your challenge is you use the term “the wise MAN” and “single dictator “. The fact is there are MANY wise men with the same goal presenting different or same views to solve various issues. Xi Jinping happens to be the MAN to deliver the message and DICTATE the direction. The CPC is a collective of intellectuals with the same goal and motives for the PEOPLE of China.

[@joekerr8334]

Everyone seems to be a professor nowadays.

[@deepakpunia2188]

39:03 comparing China to France 🇫🇷 and 🇺🇸 is not apple to apple m. Those are great democracies

[@haowang1768]

Wrong map

[@lcf2366]

Change the subject to Critical Issues Confronting USA, and see how many people care about you.

[@MarcoPolo-hn8or]

Professor Jin is so hot and smart ❤

[@mimiginkgo]

chinglish so classless

[@yongdeng1813]

@@mimiginkgoaint your mother chinese?😂

[@TyrannicG]

Im sorry but photovoltaic and EVs are not even close to advanced tech... Calculators and golf carts with that tech was sold in the 80s

[@pauldeffebach8420]

Keyu Jin does not mention the corruption endemic in Leninists systems. Local governments have every incentive to continue real estate bubble as they receive, according to rumors, 20 percent of the apartments mortgage free.

[@tonywyli]

No, China has a strong central government. Local governments are under tight control.

[@MrChenjinyuan]

I think wen your speaker of the house is insider trading your system is more corrupt

[@mrmosk2011]

It is hard to determine economy without talking about political systems. There is always local vs. central government conflicts. In the US that's state vs. federal rights fight. The difference is that China does not have a clear definition of these rights. In the US there are laws determines the state vs. federal rights, even when we don't all agree to the division. There is a process to interpret the existing laws, there is a process to change the laws in the US. None exists in China. All the governors are appointed by the central government, so as soon as they see something they don't like they can remove a governor. Even the major cities majors have to be appointed by the central government. So there is really no local rights at all on paper. So any so called local interests got its way is really because they follow the For innovation, it is problem is not government involvement, but lack of tolerance of free speech. Innovation requires freedom of thoughts and speech, without it innovation does not have a health soil to grow on. As for government intension of state vs. private lending, her answer is less genuine. I don't think she lacks the knowledge or information, so it can't be ignorance. Xi and his advisers clearly stated the desire to promote the state economy. I just give a simple Google search shows: gzw.wuhan.gov.cn/bmdt/gzjg/202004/t20200402_987604.html. This article summarized Xi's speeches from 2013-2016 to emphasize state companies strength and try to get support. Given that how can she state the banks lended to the large state companies is simply based on risk and return?

[@jlife9092]

She is in a precarious position politically with family members and wealth still embedded in China. Measuring her every word carefully is the only way to ensure that she and her family will not be persecuted every time she set foot in China. Personally I don't find her accomplishments particularly impressive and her public speaking ability is honestly at a secondary school level, contents aside. Lots of CCP members' kids got admitted to Ivy League out of nowhere including Winnie's daughter so I wouldn't put it past Harvard to let her get an easier pass thru from BA to PhD all at the same institution.

[@mrIknowwhatyoudid]

一开始还挺稳，后来语速越来越快，还有连续出现欲言又止的情况，给人感觉不是那么自信。看着屏幕要阐述的TalkingPoints 因此同时开始相互拥挤踩踏，搞得人没有兴趣听下去了。

[@TomSimba]

As soon as I heard the billion Chinese living at under $300 per month, I know I cannot trust anthing that follows.

[@dequanli5122]

hard to understand what the chinese guy said

[@vrbearm_3827]

金刻羽到底是个什么路数？有没有人解惑一下。我感觉她既不像战忽局也不像原教旨主义自由经济派

[@NoNameToHave]

用洗涤剂洗地😂

[@chrislui571]

她爸爸

[@Mingyu1031]

洗地派

[@vrbearm_3827]

@@chrislui571我知道她爸爸是谁，我是很迷惑她的叙事方式：首先不否定西方对中国经济的各种迷幻判定，然后又share一些其实不算特别重要的事情（比如县级经济竞争），最后结论是中国还撑得住。：）

[@oak2065]

Unique is unique, not "very unique"!

[@jeffreytsai2240]

多說無益，換領導人才是正解

[@stlouisix3]

What a wonderful defence of the Communist CCP, Professor Key u Wumao Jin😉🤣🤣🤣🤣🤣😂😂😂😂😂😅😄

[@randomdude7384]

Mao though

[@RohankrishnaB]

why do you guys hate asia? just leave us alone

[@atky7032]

defending CCP against what?

[@jeffreytsai2240]

堅持習核心，奔向解放前

[@jamesstmanhattan]

"The Communist Subversion on Campus Documentary" The American Archives, 2023, in color.

[@harryloo8544]

Real Chinese expert

[@mimiginkgo]

real wumao praise

[@user-cb8ek3vf3l]

让美国人了解中国不是好事，记住孙子兵法，多让章家敦这样的人给美国上课

[@ing2911]

Would you explain why most rich and famous Chinese want to move their money and immigrate to the West ? What UK has got that China hasn't ?

[@WarrenKLiu]

This is a misconception. Let’s use 100M or more net worth as a yardstick. Amongst my customers and personal friends, there are about 37 families who meet this criteria spread over 4 provinces in China. None of them want to immigrate. All of them want to diversify their net worth risks. So what you see as rich wanting to get out of China is just them wanting to diversify wealth risk. Exactly what the Family Offices in the West do, they would invest/buy assets all over the world, some with high risk profiles, some with low risk profiles. This trend is the same in every country in the world and has been for as long as I’ve been alive and I’m pretty sure it’s been that way for centuries. My wealthy friends in Singapore would buy assets in ASEAN, China, US, LATAM, EMEA, UK, EU and some have even begun acquisitions in Africa. By all measurements, Singapore is way more attractive than the West, modern infrastructure, no capital gains tax, no estate tax, financial hub, universal healthcare (not like they need it but it’s there), effective tax rate of 11% for reported salaries of 250k or less in SGD terms (1.3 SGD = 1 USD), major sea port, major air hub, extremely safe, etc. so just because the Singaporean wealthy may buy assets in the UK, it does not mean they do it so they can migrate, the same goes for the Chinese rich and the American rich, and the European rich, like the Rothschilds, they have tons of assets globally, that doesn’t mean they want to migrate to say US or anywhere else in the world. Personally most nouveau China rich I know (which is the bulk of them), they get a shock the first time they go to London or LA or NYC. They land with the impression they are finally seeing what the most “developed” places are like and all of them get disappointed or confused because all they see is broken or badly maintained infrastructure and bad cell signals so they are like “am I being pranked” which is an experience I can relate to because I went to the US for school from Singapore, I also landed with high expectations. My very first trip with my American classmates to Boston, I actually asked them if they were pranking me that we are in Boston cuz it felt like a town instead of a city and Singapore was way more advanced in terms of being modern and this was in 1990. Most of the Chinese immigrants you see are from middle class or lower, and these days it’s getting lower and lower in numbers as China today in terms of material comfort and social services is in my opinion already surpassed most of the major cities in the West. Of course half of China, mostly the inner landlocked provinces are still in need of development.

[@aajas]

To me it's not a question of whether China CAN implement reforms to prevent a long downturn or crisis... the question is - will they? And the jury is still out... In fact, the jury disappeared 3 months ago and everyone suspects they were arrested when Xi found out there was a jury

[@miraclelment]

I believe that most, if not all, major banks in China are SOEs. I believe that banks in China do take direct orders from the top government. Prof Jin may be right about the CCP may not be discriminative towards the private sectors, but the CCP does target particular individual corporations such as Ant Investment Group and Alibaba, and etc, by issuing bulk penalty and so on. I think the way that the Chinese government can punish any company at will is a serious issue.

[@adamiskandar5107]

Funny you mentioned Ant Investment. Did you listen to the other side or are you just parroting Wall St.'s perspective?

[@Andy-P]

She mentions this indirectly - that is the CCP control of the banks. Will mean there will no shocks and Chinese banks will lend to institutions as the Government directs. This will lead to lots more unproductive investment and debt.

[@miraclelment]

I don't find anything funny about this topic of discussion. I'm not sure what you mean by "wall st's perspective". Wall street is not an organisation nor a person; it has no perspective wheresoever. FYI, wall street is just a street LOL. You don't seem to even know what you're talking about. I welcome a friendly discussion, but not mindless empty talk and unfriendly behaviour.@@adamiskandar5107

[@miraclelment]

@@adamiskandar5107 What I mentioned about Ant Group and Alibaba been penalised by the CCP wasn't somebody's perspective; it was a factual event that actually happened. You may not like negative comment about China or CCP, but unfortunately I was only stating a fact, not an opinion or "perspective", just like Japanese invaded China in WW2 was a fact, not an opinion or "perspective".

[@adamiskandar5107]

@@miraclelment Have you read explanations from the other side? You are still ignoring the reasons why they did what they did and arrogantly holding on the 'Wall St.'s perspective'. Think of it this way. The US government did not punish those big corporations who were responsible for the 2008 crash. In fact, many of them got rewarded. Wall St. was very happy. Was that good?

[@NYdalesun]

来打圆场的

[@marcwhite6267]

I can't believe the comrade Jin keeps getting her American visa renewed.

[@myfane]

Pathetic, calling people names and labeling them so your emotional response can easily overtake rational thoughts.

[@kabysummit5801]

UK loves her. She’s doing the world huge favors. Hope she will get to help UK to decouple from US.

[@Drkennethkin]

You just can‘t accept that an Asian woman is way smarter than you.

[@yongdeng1813]

LOL and why u here to give your unsolicitive p.o.v? If u can do something about it then get her deported…. Ahhhh u dont have that power!🙄

[@Djursnerable]

The fuck are those maps of China with Taiwan and the South China Sea then?@@myfane

[@Justin-zw1hx]

就这水平能当哈佛教授？

[@toma768]

Interesting talk on the problem of the local economy. The author is right on but she misuse the statistics/graphs wrongly to support her points of localized development success. Take one example, if you look the distribution 9f the distribution of Unicorns, it actually shows most of the Unicorn appear around the Beijing and Shenzhen (90+%?). The local economies are worse than she said and have no future except helps from central government.

[@peterk5981]

you know zero about local enonomy in China

[@toma768]

@@peterk5981You are correct given China now stops reporting many of the statistics (only country like China can stop reporting when the statistics does not go its way). As a statistician, I just point out how the map is misleading, just give me the statistics of % of Unicorn outside the Beijing and Shenzhen areas to educate me. Also local economy is a problem rather than a success anyway given the real estate issues.

[@peterk5981]

@@toma768 Yes, you are only one statistician, you know everything about statistics and you are great. Now, I suggest, you leave you curb your enthusiasm in reporting your discoveries because they are close to being ridiculous.

[@silberlinie]

Nice Girl. Like to meet her ...

[@zhuangdavid5037]

what do you really means? shame to you

[@justineesun3396]

A load of noises repeating wording (theory) without concrete substance of existing model reference. Is best just listening to dogs barking.

[@randomdude7384]

"The Communists on Campus" a documentary, 2023 edition.

[@28119850]

You don't even know what the word " Communist" means. GTH, AH

[@RohankrishnaB]

Haha here comes a comment from democrat with his baseless propaganda...

[@w.z.6062]

First, name her a communist, and then discredit her. Good strategy!

[@user-ed9so2rb4k]

Can't accept reality, why not just switch off? Why the headache?

[@Mingyu1031]

@@RohankrishnaBhe might be a republican. Work on your knowledge of foreign politics please, wumao. You show your self too easily. Only Chinese wumao would pin someone from democracy as “democrat”.