Clear and Present Challenges to the Chinese Economy
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- Опубликовано: 10 мар 2016
- The slides for this event are available to download here: www.lse.ac.uk/assets/richmedia...
Date: Wednesday 9 March 2016
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speaker: Dr Keyu Jin
Dr Keyu Jin will discuss the impact of China’s financial reforms.
Keyu Jin (@KeyuJin) is a Lecturer in the Department of Economics and a member of the Centre for Macroeconomics and Centre for Economic Performance.
The Department of Economics at LSE (@LSEEcon) is one of the largest economics departments in the world. Its size ensures that all areas of economics are strongly represented in both research and teaching.
The Centre For Macroeconomics (@CFMUK) brings together world-class experts to carry out pioneering research on the global economic crisis and to help design policies that alleviate it.
China is full of tallents like her to move China forward!!
This is an amazing lecture about China! I am confident that China's central government takes those points seriously in a positive way, because CCTV9 (now CGTN) and NPC conferences echo those points. The need for system reform at every level is essential & fraut with conflict of interests. This is why a powerful leader like Xi is so important to get the reforms through.
Edwina Lee .
YES. ABSOLUTELY.
@@jhhwanghwang888 Time hasn't been kind to her predictions and Xi has proven to be a wrecking ball going through Chinese industries, international diplomacy, international trade (eg trying to destroy the Australian economy but only achieving hardship in China while Australia took is goods elsewhere), the tech industry and even the realestate and development industries. The CCP can only fix so much and this is too big for any economy to work under such pressures as we see today. The clock is now ticking for the CCP!
Xi has turned to more control and rolled back reforms. Xi is as powerful as ever
You have been proven wrong..unfortunately. 😢
today, I watch the video again . I like this girl very much.
Jin KeYu .......super smart and soooooo insightful
her father is the chairman of Asia infrastructure investment bank.
Yes. The bank's name should be Asian instead of Asia man.
Keyu Jin.
@@user-pn7zx9mj8s the bank name should be yo MAMAS hahahaha lol 🤣🤣🤣🤣😁😁😁😄😄😄❤👍👍👍🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳
An interesting and thought provoking talk with a positive outlook. Do take the time to listen to this one.
Make sure to watch the part starting around minute 49. This is spot-on.
Want to understand China? Go there and find out more! Don't just watch CNN, BCC, poor guys.
totally agree, come and take a good look!
I am sure with Dr. Jin's background, she knows very well the full implications of her comments on the systemic and political obstacles to deeper reforms, as well as the fine line that she has to tread between academic integrity and discreet commentaries on the existing power structures. She's absolutely right in pointing out that there is distortion between the household sector and the state and corporate sectors, that there has been financial repression, that the stock market is biased toward the SOEs, and she's also correct in that China needs an ideological upgrade geared toward building better institutions, however she has left out the crux of the problem: it is precisely the vested interests responsible for the original financial repressions, the imbalances and the distortions that are the main obstacles standing in the way of further reforms. To merely point out the bureaucratic disincentives inherent in the offices in charge of SOE reform and capital market deregulation is to side-step the crucial problem of the factionalization of the CCP power structure, and given her academic pedigree and personal background, such an elision seems to be carefully calibrated and frankly, a little shy of the mark, if not disappointing.
Dont mislead by her. She has not much knowledge on deep understaning China, as she perhaps has no experience on working and living throught the entire change.
Yes. As a post-80s who have been living in China for more than 20 years, I totally agree with you. The so-called professor's lecture may sound comprehensively fantastic, however as you have said, she has missed the great changes in China especially changes in recent 10 years. Many marvellous positive changes have been made no matter in economy or in infrastructure construction. She didn't mention these during this lecture and I am very confused about it. To fill myself in, I have also found her TED speech and the topic was about one-child policy. Sadly though, this 1.5-hours speech was also full of meaningless sentences. Hoping people around the globe can think logically. Existing facts cannot be ignored. Cheers.
Do mislead by her - google who her dad is of (CCP's) China...
SK C How do you bias the stock market towards SOEs? If you know, please let me know. Also what is financial repression?
eric zy She was trying to make it easier for people like you to understand a complex issue. But I have to admit she has failed.
Educated.
It’s great to see how one or two Folk can summarize the work of thousands and their money - and make it their own.
I’ve seen it World Wide.
heartening to learn that someone from asia, who new asia best speak petty loud and clear that we that they do it too,
China can now be consumer based
Economy. Domestic Market more than twice the Export market.
CHINA'S Consumers FIRST.
CHINA no longer Export-orientated.
CHINA For CHINA FIRST.
China supporters all proven wrong..
i know she is good looking. but can i see the slides that she is referencing to for a bit?
+Niccolò Machiavelli
Hey, is north-han, square head, maybe from Beijing.
In future people from Beijing or Shanghai will be very tall.
+Bobu Emil good to know that. thanks
& rich
it's on her chest
Niccolò Machiavelli
i agree...why the slide haven't show in camera? how we know about her presentation?
could you link to slides please
China has learned the secret - if you want to get rich, get others rich also. China is helping Africa to build infrastructures. That will help African Nations to become rich. s that win-win?
w8stral2 You must be blind, go to Africa and see for yourself what China has built there.
If the infrastructure pays for itself else crippling debt. Here we are 2021look at that infrastructure & debt now.
She told us it's important to have a good dad
Totally trashed Gordon Chang
TobyRecorded .
WELL SAID.
Good Lecture!
great lady
Anybody got them slides? I can only look at her beautiful face for so long
True beauty lies in the unawareness of it, but focusing on the grey zone in that skull, instead of the pink hemispheres, under the chin.
The reason why China could move so far for so long and to move up the ladder of technology while other developing countries are caught in middle class trap that they cannot cross is precisely the political system that allows the state to control the critical technologies within the SOE or private entrepreneurship with a red string linked to the state that allows the country to move up the ladder. Too much emphasis is put on state capitalism but in China, it is a complex mix of centralized capitalism and decentralized capitalism where it is appropriate that pull the whole economy along. Compared this Chinese agility with the western version of capitalism with very rigid pre-assumptions.
Take for example, the great concern of most developed countries on the robotic and AI revolution while China seems to embrace it despite that it could be a larger problem for them with the much larger number of workers trying to come into the employment market. It seems a socialist society makes this transition easier as what Karl Marx had said that the realm of freedom begins when the realm of basic necessity is left behind. Evidently, it would be easier for a socialist country to find a solution to this revolution. Also the focus on education of the Chinese means that it would also be easier to move workers into new economy jobs when manufacturing (and standard professional) jobs are being filled more and more by robots and AI. Even the western concept that the individual rights are sacrosanct now faces challenge from the socialist concept that it is secondary to the communal good.
It is well known that China is trying to reproduce a Chinese version of the Silicon Valley. In the Silicon Valley, any budding entrepreneur who has an idea can work on the idea without any fear that someone else will work on the same idea. In China, the incubator space is free and housing is cheap, thanks to the government, but ideas are allowed to be freely thrown around and many people could work on the same idea at the same time. Not only that, any progression of that idea, someone can add on to it. This is a paradigm shift that is not present or even allowed in the Western world. The end result is in China, the idea bears fruit much faster than the same idea in Silicon Valley, because of greater team work rather than individual effort. There is no question of intellectual property here because IP is recognised only when the idea is developed enough to be registered. You can see this same team effort being applied in the design and construction of complicated projects like an aircraft carrier, for instance and admire the speed that the Chinese can do that. Can western competitors challenge the Chinese? Not if they cannot make the paradigm shift.
000
queen of the little pink
China was the very first real civilization, and (despite two centuries of humiliation) she has regained her position and managed to survive recent stormy water. This means the West should now show some respect where respect is due. She has never (in her long history) been aggressive toward the West; however the past two centuries show that Westerners did in fact mistreat and humiliate her -- often with her own inventions. (Read ":The Man Who Loved China", by Simon Winchester). Thus fine lady is a good example of Chinese "meticulous thinking" -- for she considers nearly everything except the effects of a
tragic worldwide famine, which would of course have enormous implication for both Western and Eastern growth models. Gee, I could listen to her talk forever! (Always ideological shifts plus reforms; America has been "digging through the bottom o the barrel" in Washington, and coming up with NOTHING.
China has never been aggressive??!! Xinjiang was invaded as was Tibet. In 1962 China entered Indian territories and a war perused. In 1970 China tried to invade Vietnam and failed miserably in 5 weeks. The south china sea does not belong to china historically or otherwise!! Nor does the east china sea for that matter. China has entered into skirmishes with the USSR while it operated.
Today China's economy sits on a knifes edge and its only a matter of time with all the major issues facing it.
@@peterlongland6862 Two years later at youe last statement has turned out true
China was never the first civilisation be any stretch, it's less than 5000 years old. As the the century of humiliation, I hope you are including chairman Mao's Great Leap Forward program that brought on the largest human caused starvation event that cost up to 45 million Chinese deaths!
@@Andy-P thank you Andy P, it wasn't a difficult prediction in all honesty
the only social compass left is patriotism---Nationalism
Nationalism. That is CCP policy now
is it just me, or is she wearing her sweater inside out?
It's called fashion
It was sewn with a crooked sewing machine
Jacob Gerow And the stitches are getting undone. Just have a little patience.
Use your ear and not your eyes
Yes, you are right.
Nobody can restrict human mind that is the wonder of Universe in all senses of our human understanding of the material world and beyond.
I am a person who likes to listen to all points of views . Well done. We should try to avoid partisan views. As all forms of states and their governance are all human experiments for better future. Dissection of facts, systems have some significance which enhances our understanding for the future of human development including scientific research, marketing, and other reams of human endeavour.
4 years on...time exposes lies. Since facts dont change, wishful thinking narratives must. That s the modus operandi of the world's China watching community, decades after decades.
中国政府应该聘金刻羽为顾问，最好去作副总理
有他爸爸在朝中呢
first :)
how the hell am I happy to speak english.
+Сергей Оненко
govori po ruminsky
Concerned about the rise of China...?
More concerned about the rise
smart and pretty Chinese women....
虎父无犬女
The Chinese have so many beautiful women with Ph.D holders teaching in westen universities. In its 40 years of development, China has created 800 middle class citizens from its strategic planning. The next country in Asia will be India moving up the ladder in another two decades. The upliftment of people in education will see the difference in another level where China has already become the second riches country in the world today.
Spies and Evil 👿 from the China 🇨🇳 CCP.
They all can go to Hell.
.
Her China dream has been shattered
All her fears are being realised. The Professor should of watched her own video before completing her book China's New Playbook. The CCP knew the problems all those years ago and seem unable to fix them or chose not to. The problems are not cyclical but structual. Can the CCP fix the problems in the years ahead unlike the last few years?
....lol .... the coming collapse is imminent ....lol
US Educatec.
Huh.
Lol
A pretty face
The apostates/hypocrites Anglo american is the king of the south that will always compete against the apostates/atheists Russia and China is king of the north,so kyle bass and Gordon Chang prediction about the collapsed of China is not accurate/unscriptural because both of them are apostates and do not have any senses of history.Dan.11;2:44;rev.16:14-16.
Brush off that white thing please
Dr Keyu Jin does not give any predictions or strategies regarding the China CCP Economy. My opinion is that once the US pulls
out investments in China and decouples at a mass scale, the China economy will collapse. Actiually, it has already started with
Evergrande imploding. This will be even larger than Lehman Brothers. Dr Keyu Jin, has a PhD from Harvard, but she has no academic analysis regarding the China Economy. Another unqualified Chinese academic that graduated with a Ivy League PhD who is totally not qualified.
I.e., Dr Keyu Jin is just a lot of talk and no substance.
she lacks insight on where china is going. Its her weakness on lecture as she has not experienced the fundenmental change as those who lived in China.
Religion has never evloved into playing a major role in Chinese life, so it won't either in the future.
About the politic, she totally lost herself. tiananmen accdent will not happen again, at least in next 20 years it won't.
Family is the core social value among chinese, inherited from 2500 yrs ago. Much to improve thou.
Chinese university is not bad even it is not the best in the world. What is need to reform in education is primery junior education. She totally lost the direction on those topics.
Agreed 100% but bear in mind she got her PhD in Harvard. The Americanization of the doctor have to have some effects on her behavior.
Francis Liew For sure. It is her own business to figure her way out if she experienced a few years of what the real world has changed and is changing.
zhao Mark you might as well ask Xi Jinping and he wouldn't be able to tell you definitely where China is going. Dr. Jin made it amply clear there're two possible scenarios: China's going to succeed if the financial sector is reformed and the potential of the private sector is released. The alternative (disastrous) scenario is reforms stagnate, SOEs continue eating up capital while losing money and dragging the economy down, and China's internal tensions intensify till it reaches the implosion point. You are welcome to make your own judgment as to which scenario we are heading to.
Shouheng Wu hahah....you just use the western theories as the Dr. did. you really know nothing.
zhao Mark In that case, why don't you share with us YOUR insight on the Chinese economy? You make it sound like you have something up your sleeve that Dr. Jin with her family connections and Harvard education somehow managed to miss. Go ahead and spill it, I'm all ears