Leading China economist Arthur Kroeber discusses the basis of the country’s economic growth and its relations with the US, at a panel of the Brown China Summit. Kroeber “explained that China’s alignment with Russia is an effort to erode the current U.S. global order in order to create more space for the two countries.”
The Brown Daily Herald:
Kroeber opened the discussion by explaining that Chinese economic growth is motivated by “improvements in the labor force, increases in capital and increases in productivity.” In recent years, the trajectory of the labor force and capital has been “going into reverse, and … (the Chinese government’s) obsession with top-down control is not ideal for productivity growth,” he said…
The panel also discussed the global economic and military repercussions of China’s potential involvement in the Russia-Ukraine conflict. “I think there’s a belief among many Chinese leaders that … the United States is hostile and they’re very powerful, but they’re also in decline,” Kroeber said. He explained that China’s alignment with Russia is an effort to erode the current U.S. global order in order to create more space for the two countries.
“From a long-term strategic perspective, it is hard to see this as anything other than a big mistake by China,” Kroeber added. “Its economic relationship with Russia … is very narrow and based on resources.
“Over a five to 10 year period, this (alignment) will probably come to be seen as a pretty major error of judgment,” he concluded.
More at the Brown Daily Herald.
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