Yasheng Huang: evaluation

Transcript context

…What’s the future of immigration into China as population declines? And it just started declining. Who wants to go there? Well, it’s not a very attractive country to go to now. Look at what happened during the COVID public health crisis, and this erratic policy from Zero-COVID to essentially no policy in place to control any kind of virus transmission. And now China is reporting 60,000 deaths related to COVID, and most people believe that’s a vast underestimate of what the true number is. The erratic policy on economic management is also incredibly jarring. It undermines the credibility of the policy management of the government. I think that the bigger worry is foreign capital, ahead of foreign migrants. Foreign capital, the reorganization of the supply chain, and China used to be a factory for the world. Now many companies are rethinking about whether or not they should rely so heavily on supply chain in China. For example, if you look at the recent iPhone 14, parts of it are made in India rather than in China. I have heard from many companies that they are going to move out the part of production that caters to the world market to other countries. They are going to have the production catering to the domestic market stay in China. China increasingly is becoming a factory for itself rather than factory for the world. From the immediate economic perspective, the reluctance of foreign capital is a bigger concern than the lack of immigration. In the long run, probably the labor supply is becoming an issue, and they may rethink about the immigration policy. What are the possible Chinese origins of the phrase laissez-faire?…

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