Resident scholar, American Enterprise Institute; Chief economist, China Beige Book

Joined June 2014
41 Photos and videos
Due to policy choices and demography, China’s long-term economic future is grim. (3/4)
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Perhaps more surprising: in the short term, China’s purely domestic economy may have been shrinking for at least two years. (4/4)
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The President’s long-standing chase for China deals has pushed the US to avoid hard choices, only to get burned later.
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A mainstay issue being suspiciously soft-played is pharmaceuticals.
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The value of China’s overseas investment and construction combined since 2005 has hit $2.6 trillion. Verifiable investment recovered from Covid and zero-Covid but has not gone back anywhere close to the peak in the mid-2010s.
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The China Global Investment Tracker is the only comprehensive public data set covering the country’s outbound investment and construction. It includes 4,900 large transactions across metals, property, agriculture, and other sectors, plus over 400 troubled transactions.
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