Keyu Jin: evaluation

Transcript context

…The following is a conversation with Keyu Jin, an economist at the London School of Economics, specializing in China’s economy, international macroeconomics, global trade imbalances, and financial policy. She wrote the highly lauded book on China titled The New China Playbook: Beyond Socialism and Capitalism that details China’s economic transformation since 1978 to today. And it dispels a lot of misconceptions about China’s economy that people in the West have. This is the Lex Fridman Podcast. To support it, please check out our sponsors in the description and consider subscribing to this channel. And now, dear friends, here’s Keyu Jin. What is the single biggest misconception the West has about China’s economy today? The biggest misunderstanding is somehow that a group of people or even just one person runs the entire Chinese economy. It is far from the reality. It is a very complex, large economy, and even if there is an extreme form of political centralization, the economy is totally decentralized. The role that the local mayors, I call this the mayor economy, plays in reforms, but also driving the technological innovation that we’re seeing right now. It is actually not run by just a handful of people. It’s more decentralized than the US’s. And I think more broadly, a big misunderstanding is really the relationship between Chinese people and authority. Can you elaborate on that?…

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