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China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA

  • Norbert F. Tofall EMAIL logo
Veröffentlicht/Copyright: 25. Dezember 2023
The Economists’ Voice
Aus der Zeitschrift The Economists’ Voice Band 20 Heft 2

Abstract

Contrary to optimistic predictions from the financial industry in 2011, China’s economy will not have overtaken that of the USA by 2025. Since 2012, Xi Jinping has largely brought the market, private property and the capitalist mode of production back under the control of the Chinese Communist Party. Xi has curtailed the success factor of decentralization and continued to expand the failure factors of interventionism and state control. Capital is now flowing out of China, putting the renminbi under devaluation pressure. Even a relocation of production capacities from China primarily to other Asian countries can already be observed. In its policy of hegemony, China is steering the economy to achieve political and geopolitical ends and is practising geoeconomics. What remains unclear is how the geoeconomics pursued by Xi is intended to enable long-term growth in China.

Keywords: geopolitics; geoeconomics; international relations
JEL Classification: A; A1
Corresponding author: Norbert F. Tofall, Flossbach von Storch Research Institute, Flossbach von Storch AG, Ottoplatz 1, D-50679 Köln, Germany, E-mail:

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Received: 2023-12-01
Accepted: 2023-12-11
Published Online: 2023-12-25

© 2023 Walter de Gruyter GmbH, Berlin/Boston

Artikel in diesem Heft

  1. Frontmatter
  2. Editorial
  3. The Economists’ Voice, December Issue 2023, Geopolitical Tensions and Economic Policy Making
  4. Policy Papers
  5. European Public Policies and Sovereign Risk in the Eurozone: How State-Contingent Governance Hampers Fiscal Discipline
  6. The Reform of the European Fiscal Rules: In Search of Mechanisms Ensuring Sustainable Debt Levels
  7. How Brexit Damaged the United Kingdom and the City of London
  8. Understanding Economic Sanctions on Iran: A Survey
  9. A Soufflé only Rises Once: China’s Grim Economic Prospects
  10. Policy Forum: Geopolitical Tensions and Deglobalization
  11. Deglobalization: Reasons and Effects
  12. Geopolitical Tensions and Global Monetary (Dis)Order
  13. From BRICS to BRICS+: Sheer More Members is not a Challenge to G7
  14. The Rise and Fall of the Eurasian Regionalism
  15. Caught up by Geopolitics: Sanctions and the EU’s Response to Russia’s War Against Ukraine
  16. China’s Central Role in the Globalization and Slowbalization Trends
  17. German Chinese Economic Relations: Necessary Reassessment
  18. China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA
  19. Systemic Rivalry of China and the West in Climate Policy
https://doi.org/10.1515/ev-2023-0068
Schlagwörter für diesen Artikel
geopolitics; geoeconomics; international relations

Artikel in diesem Heft

  1. Frontmatter
  2. Editorial
  3. The Economists’ Voice, December Issue 2023, Geopolitical Tensions and Economic Policy Making
  4. Policy Papers
  5. European Public Policies and Sovereign Risk in the Eurozone: How State-Contingent Governance Hampers Fiscal Discipline
  6. The Reform of the European Fiscal Rules: In Search of Mechanisms Ensuring Sustainable Debt Levels
  7. How Brexit Damaged the United Kingdom and the City of London
  8. Understanding Economic Sanctions on Iran: A Survey
  9. A Soufflé only Rises Once: China’s Grim Economic Prospects
  10. Policy Forum: Geopolitical Tensions and Deglobalization
  11. Deglobalization: Reasons and Effects
  12. Geopolitical Tensions and Global Monetary (Dis)Order
  13. From BRICS to BRICS+: Sheer More Members is not a Challenge to G7
  14. The Rise and Fall of the Eurasian Regionalism
  15. Caught up by Geopolitics: Sanctions and the EU’s Response to Russia’s War Against Ukraine
  16. China’s Central Role in the Globalization and Slowbalization Trends
  17. German Chinese Economic Relations: Necessary Reassessment
  18. China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA
  19. Systemic Rivalry of China and the West in Climate Policy
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Heruntergeladen am 7.11.2025 von https://www.degruyterbrill.com/document/doi/10.1515/ev-2023-0068/pdf
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