China’s Private Sector Is a Victim of the CCP’s Growth Model

Women walk by an electronic billboard showing China’s GDP index on a commercial office building, in Shanghai, Aug. 24, 2021 (AP photo by Andy Wong).
Women walk by an electronic billboard showing China’s GDP index on a commercial office building, in Shanghai, Aug. 24, 2021 (AP photo by Andy Wong).
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After two to three decades during which Beijing supported the marketization of the Chinese economy and the growing role of the private sector, many analysts now worry that the Chinese Communist Party has turned its back on its earlier commitment to market-oriented reforms. For example, Stephen Roach, an economist at Yale University and former chairman of Morgan Stanley Asia, worries in a recent essay that the Chinese government’s current focus on re-regulation and income redistribution is undermining “the heart of the market-based ‘reform and opening up’ that have underpinned China’s growth miracle.”  Indeed, in recent years Beijing has implemented a series […]

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