Arthur Kroeber vs. The Conventional Wisdom
Arthur’s new book, China’s Economy: What Everyone Needs to Know, superbly explores China’s astonishing expansion during the “reform and opening up” period and the challenges the country now faces as growth slows. He provides a clear-eyed take on a huge range of subjects, from the internationalization of the renminbi to local debt to the way China’s state-owned enterprises function (or don’t). The book is a refreshing antidote to much of the commentary in the media, where “The Conventional Wisdom” we discuss in the podcast consists of doomsayers predicting China’s imminent collapse and Pollyannas who see the country as an unstoppable economic juggernaut.
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