Thinking About China
Opinion

The Weakness of China’s Economic System

The Weakness of China’s Economic System
Lunar eclipse rises over the skyline of Shanghai, in China, on Nov. 19, 2021. Aly Song/Reuters
Milton Ezrati
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Commentary

Under Chinese leader Xi Jinping, China has hardened its centrally directed approach to economics. Without siding with Xi, many Western media outlets and businesspeople have praised this centralized approach as superior to America’s seemingly chaotic market-oriented system. Some have even forecast the ultimate triumph of the Chinese model.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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