China is now the second largest economy, second largest exporter, a manufacturing machine that has lifted 500 million from poverty while producing more than one million U.S. dollar millionaires. Then why do China’s leaders describe their economic model as “unstable” and “unsustainable?” Because it is.
In a discussion based on his new book, No Ancient Wisdom, No Followers, James McGregor will describe the much-vaunted “China Model” as one authoritarian capitalism, a unique system that must be radically overhauled for the country to continue its march toward prosperity. The system is proving incompatible with global trade and business governance, and relying on an outdated investment and export model that’s running out of steam.
China’s own think tanks and policy planners are warning that the only way to continue high growth is to unleash private enterprise, as Deng Xiaoping did. This is a huge challenge facing the new leadership.
VENUE: Embassy of the Kingdom of the Netherlands, Liangmahe Nanlu 4, 荷兰王国驻华大 使馆 – 北京, 中 华人民共和国北京市亮马河 南路4号
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ENTRANCE: free to members, 80 RMB on the door to non-members. Please bring your passport or photo ID.
ABOUT THE SPEAKER:
James McGregor is a senior counselor for APCO Worldwide in China, and author of two highly regarded books: No Ancient Wisdom, No Followers: The Challenges of Chinese Authoritarian Capitalism, published in October 2012, and One Billion Customers: Lessons from the Front Lines of Doing Business in China, published in 2005. He was China bureau chief for The Wall Street Journal in the early 1990s and the longtime CEO of Dow Jones China. Previously he has been a congressional reporter for Knight-Ridder newspapers during the Reagan administration and Taiwan bureau chief for The Wall Street Journal from 1987 to 1990. He was an active member of the Board of Governors of the American Chamber of Commerce in China (AmCham) for nearly a decade and served as chairman in 1996. He is currently chairman of the U.S. Government Relations Committee for AmCham. He is also a member of the Council on Foreign Relations, the Atlantic Council, a Global Council member of the Asia Society, a board member of the U.S.-China Education Trust and a member of the National Committee on U.S.-China Relations.