Avoiding the Blind Alley: China’s Economic Overhaul and Its Global Implications (Hong Kong)
DATE: November 6, 2014
TIME: 12:15pm – 2:00pm
LOCATION: 9 Justice Drive, Admiralty, Hong Kong
EVENT PAGE: Asia Society
REGISTRATION: Registration at 12:15 pm
In November 2013, Chinese President Xi Jinping and other leaders announced a bold and comprehensive program of economic modernization, backed up by political reforms. The degree of boldness indicates that after 35 years of world-beating economic performance, China’s development model is obsolete and in need of urgent, not gradual, replacement. To justify the risks, President Xi quoted an impassioned plea for policy modernization by his predecessor Deng Xiaoping: the only way to avoid a dead end — a blind alley — is to deepen reform and opening both at home and with the world.
Despite this clarion call, observers in China and abroad have found several reasons to wonder what shape the reforms will take and whether the reform program will set China’s economy on a new path to sustained growth and bolster its trade and investment relationships, which have great importance for the global economy and for governments and businesses around the world. With its report Avoiding the Blind Alley: China’s Economic Overhaul and Its Global Implications, the Asia Society Policy Institute offers new insights on the changing profile and prospects of what will soon be the world’s largest economy. The report, produced in collaboration with the Rhodium Group, clarifies the ambitions of China’s economic reform program, assesses the progress China has made in implementing reforms, and forecasts the impacts the program will have on China’s economy and the world economy.
Daniel Rosen is the Wadsworth Fellow at the Asia Society Policy Institute and founding Partner of the Rhodium Group, leading the latter’s work on China. He holds visiting positions at a number of prominent American think tanks and has served as an Adjunct Associate Professor at Columbia University since 2001. Mr Rosen is the author of numerous books on China and other emerging economy topics, most recently on Chinese foreign direct investment in the US. Mr Rosen has also worked as Senior Advisor for International Economic Policy at the White House National Economic Council and National Security Council. He is a member of the Council on Foreign Relations and serves on the Board of the National Committee for US-China Relations.