| | | | | Dear friend,
Thank you for registering for the Founding Fuel Masterclass series on The World in 2025, scheduled for Friday, 31st January 2025, 6:30 pm and Friday, 7th February 2025, 6:30 pm. This newsletter is part of a series designed to help you prepare for the event, featuring insights about and from our panellists. | | | | | “From a historical perspective, this turn [Trump’s victory] was inevitable. Despite its many successes, the Democrats' agenda has brought many contradictions to US society. Trump's MAGA agenda is a necessary step to iron out those contradictions.”
If you slotted this as a sobering perspective of the US election outcome from an American analyst, you are mistaken. That is an assessment in China Daily by Yao Yang, Director of China Center for Economic Research and professor at National School Of Development, Peking University.
Yao is one of the leading economists in China and is well known for his realism and pragmatic approach. Donald Trump’s actions in his previous term led him to theorize that the President had started a second Cold War and the US’s primary rival in terms of ideology, geopolitics, and technology now was China.
Yao’s has been a voice of independent reason within China too. He called out the “three red lines” for real estate debt a mistake. He has continued to argue that China needs to alleviate the pain in the real estate sector and tackle the indebtedness of local governments for the economy to return to good health. | | | | | | | | | The US-educated economist believes it would serve China well to throw out its old system and develop its own discursive system. The Chinese Communist Party’s goal of the great revival of the Chinese nation can be achieved by returning to the Confucian system, in substance and branding.
Yao, an admirer of Nobel Laureate Amartya Sen, secured his PhD in economics from the University of Wisconsin-Madison. His first class on development economics started with Marxian theory. That surprised Yao as his alma mater Peking University had long stopped teaching Marxism in its classrooms! | | | | | | - Liberal Arts Chair Professor, China Center for Economic Research (CCER) and the National School of Development (NSD), Peking University
- Director, China Center for Economic Research
- Executive Dean, Institute of South-South Cooperation and Development (ISSCAD)
- Editor, CCER’s house journal China Economic Quarterly
- President, China Economic Annual Meetings
- President, Foundation of Modern Economics
- Member, China Economist 50 Forum
| | | | | | - Economic transition and development in China
| | | | | | | | | | | | | | | | FOLLOW US AND ENGAGE WITH US | | | | Warm regards,
Team Founding Fuel
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