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Opinion
Letzte Aktualisierung: August 31, 2022

China's growth sacrifices have only just begun

By Stephen S. Roach
Stephen S. Roach, US-amerikanischer Wirtschaftswissenschaftler und Senior Fellow am Jackson Institute for Global Affairs der Yale University sowie Dozent an der Yale School of Management
Stephen S. Roach, faculty member at Yale University and former chairman of Morgan Stanley Asia
For four decades, rapid economic growth was the prime imperative of China's communist leaders. President Xi Jinping, by contrast, is prepared to forego growth in the interest of cementing the Party's political power and pursuing his Chinese Dream of national rejuvenation.
Since the days of Deng Xiaoping, economic growth has mattered more than anything for China’s leaders. The 10 percent annualized hyper-growth from 1980 to 2010 was widely seen as the antidote to the relative stasis of the Mao era, when the economy grew by only about 6 percent. But under President Xi Jinping, the pendulum has swung back, with 6.6 percent average growth from 2013 to 2021 much closer to the trajectory under Mao than under Deng.
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