Peng Shengyu

Peng Shengyu

Research Fellow, Charhar Institute

Peng Shengyu is a research fellow at the Charhar Institute and an distinguished research fellow at both the International Financial Forum and Zhejiang International Studies University's Center for American Studies. His area of expertise is on China's international strategy.  

This aerial photo taken on 7 September 2021 shows a view of cars at Lianyungang Port in Lianyungang in China's eastern Jiangsu province. (STR/AFP)

Chinese academic: Less exports, more wealth redistribution needed in China

China’s imports and exports of goods totalled 18 trillion RMB in the first half of this year, 27% higher than the same period last year. However, instead of rejoicing over soaring numbers, Chinese academic Peng Shengyu warns that huge exports also point to a great loss of domestically created material wealth flowing overseas. He says by unreservedly supplying China-made goods to the US who has the power to print money in abandon, and leaving wealth accumulation in the hands of individuals, the Chinese government has not done enough to improve the lives of its people, especially the poor.
A visitor takes a photograph in front of an electronic American flag in the Times Square neighborhood of New York, US, on 4 September 2021. (Amir Hamja/Bloomberg)

Chinese academic: China will pay the price for underestimating the US

The US’s withdrawal from Afghanistan was ugly and messy, but certainly not anywhere catastrophic enough to say that this marks the end of US hegemony. China should not underestimate the US’s strength. In fact, while the US flexes its muscles in conventional warfare and pledges a “no first use” nuclear stance, China should beef up its nuclear deterrence quotient for greater insurance against the US.