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Commentaries by Yao Yang

Yao Yang

Professor, China Center for Economic Research

Yao Yang is Dean of the National School of Development at Peking University and a professor at the China Center for Economic Research.
  • Apr 30, 2024

    During her recent visit to Beijing, US Treasury Secretary Janet Yellen criticized her Chinese counterparts, arguing that China’s government subsidies have led to overcapacity in crucial sectors like alternative energy and electric vehicles (EVs). This, she contended, provides Chinese companies with unfair cost advantages that enable them to outcompete American firms. But while Yellen was right to point out China’s overcapacity problem, her assertion that government subsidies are the root cause was misplaced.

  • Jan 09, 2024

    China’s economic performance over the last year has been disappointing – so much so that some observers argue that growth has already peaked, and that it is all downhill from here. But it is far too soon to write off China’s economic resilience.

  • Mar 05, 2018

    To the extent that it raises living standards, the “China Model” fulfills some requirements of political legitimacy. But, once those living standards reach a certain level, the Chinese people will almost certainly demand more personal freedom and political accountability.

  • Aug 24, 2013

    Considering the lack of progress toward implementing financial reforms, many analysts question whether China’s leaders have the economy under control. As China’s leaders prepare for their annual summer meeting, Yao Yang urges the adoption of a bold plan for structural reform.

  • Jun 14, 2011

    Is China poised to surpass the United States to become the world’s largest economy? The International Monetary Fund recently predicted that the size of China’

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