How the coronavirus crisis is exposing the ills of the China model
- An all-powerful government means a swift and effective quarantine but the same hierarchical system caused critical delays in containing the coronavirus
- Likewise, the China model, so effective when the economy was nascent, has outlived its usefulness in a country now trying to beat the middle-income trap
Dr Andy Xie is a Shanghai-based independent economist specialising in China and Asia, and writes, speaks and consults on global economics and financial markets. He joined Morgan Stanley in 1997 and was managing director and head of the firm’s Asia-Pacific economics team until 2006. Prior to that he spent two years with Macquarie Bank in Singapore, where he was an associate director in corporate finance. He also spent five years as an economist with the World Bank. He was voted one of the 50 most influential persons in finance by Bloomberg magazine in 2013.