Is President Xi Jinping really going to reform the Chinese economy?

Erasmus School of Economics

On Monday 29 April 2019 Casper de Vries, H.J. Witteveen Professor of Monetary Economics at Erasmus School of Economics, participates in a panel discussion on BNR Nieuwsradio, together with Prof. Arnoud Boot (University of Amsterdam) and Prof. Steven Brakman (University of Groningen). One of the discussion subjects is on whether President Xi Jinping is really going to reform the Chinese economy?

 

Chinese President Xi Jinping gave an update on his foreign policy to 37 heads of state and top officials from 100 countries who gathered in Beijing on Friday 26 April 2019. He pledged that his China’s Belt and Road initiative will ensure that developing countries do not borrow too much of its debt, that it will pursue more clean, green projects and that it will improve the level of transparency in its deals with countries around the globe. According to Professor Casper de Vries, Xi Jinping is recycling American dollars as to ensure that these dollars will not be withdrawn from the world economy. It is just like Professor Johannes Witteveen, former Managing Director of the IMF, successfully did during the Oil Crisis of the 70's. As such, the basic principle is good: China, one of the leading emerging countries, is taking its economic responsibility in the world by establishing new trade relations, strengthening existing trade relations and undertaking foreign investments. However, it is unclear what China want to achieve with these actions. Does China want to affect geopolitical relations? Or is it just a zerosum game that China is playing? The question thus remains whether this project is about free trade or imposition of the Chinese will to the rest of the world.

 

 

 

Professor
Professor Casper de Vries
More information

Listen to the entire podcast (in Dutch) on BNR Nieuwsradio, d.d. 29 April 2019

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