IDEAS home Printed from https://ideas.repec.org/a/bpj/evoice/v20y2023i2p301-309n8.html
   My bibliography  Save this article

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

Author

Listed:
  • Tofall Norbert F.

    (Flossbach von Storch Research Institute, Flossbach von Storch AG, Ottoplatz 1, D-50679, Köln, Germany)

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.

Suggested Citation

  • Tofall Norbert F., 2023. "China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA," The Economists' Voice, De Gruyter, vol. 20(2), pages 301-309, December.
    • Handle: RePEc:bpj:evoice:v:20:y:2023:i:2:p:301-309:n:8
    DOI: 10.1515/ev-2023-0068
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/ev-2023-0068
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/ev-2023-0068?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    geopolitics; geoeconomics; international relations;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching
    • A1 - General Economics and Teaching - - General Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:evoice:v:20:y:2023:i:2:p:301-309:n:8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.