Chinese Economy Facing Unprecedented Turbulence

With GDP second only to that of the US, China has seen unprecedented economic growth in the past four decades yet still lags behind in GDP per capita. In a forensic examination of China’s economic expansion through 2050, Tsinghua University Professor David Daokui Li argues that now qualitative, rather than quantitative growth is needed.

This book is packed with comparative statistics and intriguing anecdotes such as China’s grudging respect for Trump, a “good negotiator”: “The first principle of his negotiations is to make extremely rude and seemingly absurd demands while, at the same time, using extreme threats.”

Noting the 2008 financial crisis where “the US government’s regulatory capacity failed to keep pace with financial market innovations”, or, ‘cats are not as capable as mice’, Li stresses the need to learn from the past and provides insider information on the future of China’s economy as it goes into version 2.0.