This time, China’s headwinds are all of Beijing’s making
The Chinese people have accepted authoritarian rule in exchange for the promise of Western lifestyles. What happens now that weakening growth momentum is government induced?
China has puzzled me for quite some time now, not least because some of its biggest challenges appear to be self-induced.
I have been fascinated with the Chinese economy since I first visited the country in 1990. It was soon after the Tiananmen Square massacre, and I was there only briefly; but I remember seeing thousands of people on bikes in Beijing, despite it being winter.
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Jim O’Neill was chairman of Goldman Sachs Asset Management and former commercial secretary to the UK Treasury.
