Economic reform

In this picture taken on 30 August 2023, workers assemble a motorbike at the Northstar Precision Vietnam factory in Vinh Phuc province.  (Nhac Nguyen/AFP)

The global south's rare development opportunity as big countries de-risk

EAI academic Chen Gang notes that although the Chinese authorities are against the Western notion of “de-risking”, it has itself taken steps to de-risk, with ASEAN overtaking Europe and the US as China’s largest trade partner. As major countries are gaining ground in their de-risking strategies, the global south is set to benefit.
A woman walks past a billboard showing Chinese President Xi Jinping with a slogan which reads "Remain true to our original aspiration and keep our mission firmly in mind" in Beijing on 28 February 2023. (Jade Gao/AFP)

Possible reforms to security agencies expose CCP's anxiety over external and internal risks

The 20th Party Congress set the direction for the Chinese Communist Party, but it is the upcoming Two Sessions that measures will be discussed and put into action. The highlight is the likely reforms to national security agencies, as well as finance and other sectors.
China's Vice-Premier Liu He addresses the World Economic Forum (WEF), in Davos, Switzerland, 17 January 2023. (Arnd Wiegmann/Reuters)

China can still shine if it acts on Vice-Premier Liu He's Davos advice

At this year’s Davos forum, Chinese Vice-Premier Liu He laid out five points that have led to China’s success so far. However, his session did not see a packed crowd, while China’s claims of sticking to reform and opening up seem less than convincing when taken against its actions. Commentator Jin Jian Guo delves into the importance of staying the course.
The Gateway of India in Mumbai, India, on 7 January 2023. (Dhiraj Singh/Bloomberg)

India could drive the next big change in the global economy, just as China did

India holds the prospect of driving the biggest change in the global economy in the next quarter century just as China did in the previous one, says economic professor Arvind Panagariya. India has several factors in its favour, but it must also push ahead with its reform agenda and open its economy wider to friendly countries through free trade agreements to make the best of its time in the sun.
This photo taken on 13 July 2022, shows a housing complex under construction in Dongguan, in China's southern Guangdong province. (Jade Gao/AFP)

China’s overreliance on land finance could lead to its downfall

Retired economist Zeng Yongchang shares his views on China’s land finance policies — while quick and efficient, land finance is unsustainable, as evidenced by the widening inequality, intensifying social conflicts and dire economic situation.
Pedestrians in the Pudong's Lujiazui Financial District in Shanghai, China, on 10 October 2022. (Qilai Shen/Bloomberg)

Large population no longer an asset to China's long-term growth

Chinese academic Han Heyuan notes that while China is claiming that its economic growth outlook remains healthy, the signs are there that changes to its population would also mean changes to its economic growth. Other factors such as dependence on overseas markets would also come into play.
A farmer picks ears of rice left over by a paddy harvester as the region experiences a drought outside Jiujiang city, Jiangxi province, China, 27 August 2022. (Thomas Peter/Reuters)

Chinese netizens debate: Should China abandon the market economy for a ‘people-oriented’ economy?

Chinese agricultural economist Wen Tiejun has landed in hot water after proposing the concept of a “people-oriented” economy. Critics believe that this is moving away from China’s reform and opening up, while others see the benefits towards common prosperity. Zaobao correspondent Yu Zeyuan tells us more about the maelstrom of controversy ahead of the 20th Party Congress.
Customers dine near a giant screen broadcasting news footage of Chinese President Xi Jinping attending a meeting with Russian President Vladimir Putin, on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Uzbekistan, at a restaurant in Beijing, China, 16 September 2022. (Tingshu Wang/Reuters)

[Party and the man] Xi Jinping faces biggest challenges in decades

While Chinese President Xi Jinping is likely to secure a third term at the 20th Party Congress, Loro Horta recalls the saying that one should “be careful what you wish for”. The road ahead in his third term looks to be fraught with challenges, both domestically and externally. This is the first in a series of four articles on President Xi Jinping and the road ahead.
Visitors are seen silhouetted against a Chinese Communist Party flag displayed at the Museum of the Communist Party of China in Beijing, China, 3 September 2022. (Florence Lo/Reuters)

China's far-left narratives are leading the country into a dead end

Commentator Lew Mon-hung notes that recent public opinion in China has been advocating a closed-door policy, sharply diverting away from the national policy of reform and opening up taken in 1978. Will China change course and reverse its decades-long process?