The End of China’s Economic Miracle
VIEW EVENT DETAILSAsia Executive Briefing
Discussion from 6:30PM
Patron reception to follow
For the past four decades, the word “miracle” was widely used to describe China’s spectacular economic growth. As the world re-opened after the COVID pandemic, the hopes and expectations for China’s economic rebound were high as well. But in 2023, this long-awaited “surge” has not materialized and Chinese economy is today facing the most consequential slowdown since the reform era of the 1980s.
Adam Posen, President of the Peterson Institute of International Economics, will discuss his provocative Foreign Affairs essay “The End of China’s Economic Miracle” as a springboard to examine why Chinese economy has not yet bounced back, and why it may not for several years. He argues that China has caught “economic long COVID” from a reversion to the economic interventions of authoritarian governments, which the Chinese leadership may not be able to reverse. Yet for those who see China’s growth as a threat, Posen warns that a less stable Chinese economy will have consequences for the U.S. and the world, and argues for opening America to outflows of people, capital, and ideas likely to mount. He will sit with Henny Sender, formerly of BlackRock and the Financial Times.
Join us for a conversation on the future of China’s political economy, what China’s slowdown means for the global economy, and the U.S.-China relationship.
Join us in-person for a Patrons-only reception with the speakers.
To register for this special opportunity or join as a Patron of Asia Society, please email [email protected] or call 212-327-9369.
Speakers
Adam Posen is President of the Peterson Institute for International Economics. He is a former central banker, the author of several widely cited studies of macroeconomic policy, and active in the public debates around globalization and U.S. foreign economic policy. He was awarded the Order of the Rising Sun, with Neck Ribbon and Gold Rays, from H.M. the Emperor of Japan in 2021 for service to Japanese economic policy and to Japan-U.S. relations. He received his A.B. and Ph.D. from Harvard University, and has received fellowships from the American Academy in Berlin, the Bank of England, the Brookings Institution, the National Science Foundation, and the Robert Bosch Foundation supporting his research in political economy.
Henny Sender is a strategic consultant to C-suite leaders and boards at financial services companies. She was a managing director at BlackRock and Chief Finance Correspondent for International Finance at the Financial Times. Before joining FT, she was the Wall Street Journal's Senior Special Writer for Money & Investing, covering private equity and hedge funds. Prior to this, she spent ten years in Hong Kong, covering regional finance for WSJ Asia and the Far Eastern Economic Review, as well as five years in Tokyo at Institutional Investor. She was part of a team at the Journal that won a Loeb award for coverage of the meltdown of Amaranth hedge fund. Her work on the overseas Chinese received a citation from the Overseas Press Club and she was a finalist for the National Magazine Awards. Her book on India, The Kashmiri Pandits, was published by Oxford University Press. She holds an MS from the Columbia University School of Journalism and is a member of the Council on Foreign Relations.
This program is part of the new Asia Executive Briefing, a series of public programs and private briefings with economists, policymakers, and business leaders, taking the pulse of Asia’s dynamic economies.
Event Details
Asia Society
725 Park Avenue
New York, NY 10021