How China can avoid a repeat of Japan’s ‘lost decades’, in eyes of top economist
Tsinghua dean and former PBOC advisor offers blueprint to avoid economic stagnation
Deep Dive
Bai Chongen, dean of Tsinghua University's School of Economics and Management and a former member of the Chinese central bank's monetary policy committee, was interviewed during the "two sessions" as a member of the advisory body.
Key Points
- Bai Chongen, Tsinghua dean and former PBOC monetary policy committee member, compares China's current slowdown to Japan's lost decades
- He advocates shifting from export/investment-led growth to domestic consumption through tax reforms and social safety nets
- His warnings come amid China's property crisis, demographic decline, and slowing GDP growth
Why It Matters
Insight from a top government adviser signals potential policy shifts that could reshape China's economic trajectory and global markets.