China's Economic Development: A Forty Year Perspective

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China has grown faster for longer than any country in recorded history.  Is it market-oriented reform, state industrial policy, or some sophisticated blend of the two that explains this success?  In this talk, Dr. Nicholas Lardy will also further examine what might explain China’s slowdown of recent years.  Is China falling into the frequently fatal middle-income trap?  Or have domestic policy choices led to the slowdown?  Have trade frictions with the United States also contributed to China’s slowing growth?  In addition, what should U.S. policy stance be towards China?  Should the United States continue to ramp up restrictions on two-way flows of technology to try to further slow China’s growth?  How successful is such a strategy likely to be and what costs to the United States would be inherent in such an approach?

Nicholas R. Lardy is the Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics.  He joined the Institute in March 2003 from the Brookings Institution, where he was a senior fellow from 1995 until 2003.  Before Brookings, he served at the University of Washington, where he was the director of the Henry M. Jackson School of International Studies from 1991 to 1995.  From 1997 through the spring of 2000, he was also the Frederick Frank Adjunct Professor of International Trade and Finance at the Yale University School of Management.  He is an expert on the Chinese economy.  Lardy's most recent books are The State Strikes Back: The End of Economic Reform in China? (2019), Markets over Mao: The Rise of Private Business in China (2014), Sustaining China's Economic Growth after the Global Financial Crisis (2012), The Future of China's Exchange Rate Policy (2009), and China's Rise: Challenges and Opportunities (2008). 

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This event is part of the 2020 Winter/Spring Colloquia series, The PRC at 70: The Past, Present – and Future?, sponsored by APARC's China Program.