China's Business and Policy Evolution

Left to right: Nicholas Lardy, Howard Chao, Jimmy Hexter, Jonathan Woetzel (Elsa Ruiz/Asia Society)
Left to right: Nicholas Lardy, Howard Chao, Jimmy Hexter, Jonathan Woetzel (Elsa Ruiz/Asia Society)

Outlooks on Legislative Indicators and a New Era of Competition for Global Companies

NEW YORK - With China’s National People’s Congress set to begin on March 5, the Asia Society and McKinsey & Company hosted a program examining the current state of China’s macro-economy and the evolution of business practices and strategy.

The panelists analyzed several aspects of concern in China’s economy, looking at currency imbalances, environmental/energy pressures, rural-urban migration, decoupling from the US economy, inflationary pressures, and rising labor costs.

The business and economic implications are significant as the stakes in China are rising for all companies.

As China solidifies its role as a market, a global manufacturer, and a talent pool, executives are finding China more profitable, more complex, and potentially riskier than ever, and several panelists addressed the imminent need for superior execution.

During a question-and-answer session with the audience, the panelists concluded with advice for how the next US president should approach China’s rise.

Jimmy Hexter, Partner, Beijing Office, McKinsey & Co.
Nicholas R. Lardy, Senior Fellow, Peterson Institute for Int’l Economics
Jonathan Woetzel, Partner, Shanghai Office, McKinsey & Co.
Moderator: Howard Chao, Asia Practice Head, O'Melveny & Myers LLP

Listen on Demand (1 hr., 18 min.)



A Conversation with Nicholas Lardy

NEW YORK - Nicholas Lardy is a leading expert on China and a senior fellow at the Peterson Institute for International Economics. He is the author of numerous articles and books on the Chinese economy. His forthcoming book, China's Rise: Challenges and Opportunities, co-authored with C. Fred Bergsten and Charles Freeman, will be published in May.

What economic policies have enabled China's growth to take place at such an accelerated pace? What are the similarities between the way we thought of Japan in the 1980s and the way we think of China now? In this interview, Professor Lardy talks to Asia Society's Nermeen Shaikh about these questions, and the prospects for China in the coming decades.

Listen on Demand (11 min., 19 sec.)