The Summer of 2021: Consolidation of the New Chinese Economic Model with Professor Barry Naughton
Stanford Libraries and the Stanford Center on China’s Economy and Institutions hosted the 2021 Dr. Sam-Chung Hsieh Memorial Lecture featuring Professor Barry Naughton speaking on The Summer of 2021: Consolidation of the New Chinese Economic Model.
During the summer of 2021, a “regulatory storm” shook markets in China. While the crackdown had its most immediate effects on private education, internet business, and finance, the government has also rolled out new policies to shape manufacturing and infrastructure, and even household fertility and income distribution. In this talk, Naughton interprets these actions as an extension of the ongoing Chinese government effort to exercise “grand steerage” of the economy. The new policies of summer 2021 in fact represent the consolidation of a new model, in which the Chinese government decisively steers a predominantly market economy.
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About the Speaker
Naughton’s recent research focuses on regional economic growth in China and its relationship to foreign trade and investment. He has addressed economic reform in Chinese cities, trade and trade disputes between China and the United States and economic interactions among China, Taiwan and Hong Kong.
Naughton has written the authoritative textbook “The Chinese Economy: Transitions and Growth,” which has now been translated into Chinese. His groundbreaking book “Growing Out of the Plan: Chinese Economic Reform, 1978-1993” received the Ohira Memorial Prize, and he most recently translated, edited and annotated a collection of articles by the well-known Chinese economist Wu Jinglian. Naughton writes a quarterly analysis of the Chinese economy for China Leadership Monitor.
The family of Dr. Sam-Chung Hsieh donated his personal archive to the Stanford Libraries' Special Collections and endowed the Dr. Sam-Chung Hsieh Memorial Lecture series to honor his legacy and to inspire future generations. Dr. Sam-Chung Hsieh (1919-2004) was former Governor of the Central Bank in Taiwan. During his tenure, he was responsible for the world's largest foreign exchange reserves, and was widely recognized for achieving stability and economic growth. In his long and distinguished career as economist and development specialist, he held key positions in multilateral institutions including the Asian Development Bank, where as founding Director, he was instrumental in advancing the green revolution and in the transformation of rural Asia.
Stanford Center on China's Economy & Institutions