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Xiao Yuqiang

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  1. Milken Institute59 min

    Chinas Future: The Sky Is Not Falling

    Timothy Dattels, James Fong, Stephen Roach, Neil Shen, Jing Ulrich, Xiao Yuqiang

    A comprehensive panel analysis examines China's structural shift from a manufacturing-driven "old economy" toward a 20% growth "new economy" fueled by digital giants, entertainment, and domestic consumption. While total social lending reaches 250% of GDP, the government is actively de-leveraging heavy industry and utilizing a $3.25 trillion currency reserve to manage financial stability alongside a transition to managed RMB convertibility. Long-term strategic outlooks highlight a critical demographic inverted pyramid and an unfunded pension system, prompting urgent investments in automation and AI to offset labor shortages and support a consumption-led future.