China’s state-run economic model is not the answer to all future problems, despite coronavirus success, prominent economists warn



Orange Wang | South China Morning Post

China should be wary of relying too heavily on its state-led economic-management model and not get caught up in the belief that successfully controlling the pandemic last year is proof that the model will solve all future problems, prominent government advisers warned this week.

The words of caution came after Beijing took a victory lap this month in announcing that China’s economy grew 2.3 per cent last year – likely the only positive growth rate among the world’s major economies – touting this as proof of the state-controlled system’s efficacy.
And to that effect, amid a resurgence of domestic outbreaks this month in northern and northeastern Chinese provinces, local governments in new coronavirus hotspots have doubled down on strong administrative controls to curb its spread.
To read the full article from the South China Morning Post, please click here