About the Talk
The Chinese economy has not had the widely expected rebound since pandemic restrictions were lifted in late 2022. High debt levels, falling property prices, excess capacity in many industries, falling foreign direct investment, and tepid consumption growth have all contributed to a weak recovery and stubborn deflationary pressures.
Commentators predict that the Chinese economy has peaked, and that it is now undergoing ‘Japanification’ – a reference to Japan’s lost decades marked by a prolonged period of sluggish growth, falling asset prices, and debt deflation. In response, the Chinese government has launched an ambitious plan – emphasising the technologies and industries of the future – to invest in ‘new quality productive forces’, increase productivity, and ensure technology self-sufficiency in the face of growing trade tensions. Amid the slowdown at home, Chinese firms are investing heavily in the rest of world, especially in other developing countries.
What are the causes of China’s post-Covid slowdown? Is the slowdown structural or cyclical? And what are its likely impacts on the rest of Asia and the world?
In this talk, Prof. Donald Low will examine the causes and economic consequences of the zero-Covid policy that the Chinese authorities pursued for much of the pandemic, as covered in his latest book, The Price of Zero: Chinas Policy Missteps During & After Covid (Call no. RA644.C67 L69 2024).
Register here: https://lbcube.hkust.edu.hk/ce/event/10538
The book will be available for sale at the talk for HKD $120 (cash & FPS only).
About the Speaker:Donald Low is Senior Lecturer and Professor of Practice at the HKUST Institute for Public Policy, as well as Director of Leadership and Public Policy Executive Education (LAPP) at the Hong Kong University of Science and Technology (HKUST).
He’s the editor of Behavioural Economics and Policy Design: Examples from Singapore (2011), the lead author of Hard Choices: Challenging the Singapore Consensus (2015), and co-author of PAP v PAP: The Party’s Struggle to Adapt to a Changing Singapore (2020).
Notes:
- This is a HMAW1905-recognized event in the “Personal Enrichment & Community Service” category under the Self-directed Experience of HMAW1905: Behavioral Foundations of University Education: Habits, Mindsets, and Wellness.
- To receive 1.0 hours, you must attend the event in full and miss no more than 10mins.
- Photos will be taken during the talk. By attending or participating in this event, you are giving your consent to be photographed and you are waiving any and all claims regarding the use of your image by the University.
