breadcrumb

Are You Happier Than You Were Ten Years Ago?

Are You Happier Than You Were Ten Years Ago?

China’s Leadership Transition at the 18th Party Congress

“Many Chinese feel that they have not participated in the economic benefits of an economy that has been growing very rapidly,” says Michael Evans, a vice chairman of the Goldman Sachs Group and head of growth markets for the Wall Street investment bank. Nowadays, many Chinese even believe that they are “entitled to a broader participation in all aspects of the economy, but also in greater representation.”

Facing these changing expectations from China’s citizenry, Evans says, is among the prime challenges to the incoming batch of leaders about to ascend to the Standing Committee of the Politburo of the Chinese Communist Party—the party, in power since 1949, that wishes to hold power into the future.

Further challenging the new CCP leaders is the need to put forward a practical reform plan to smooth a planned structural shift in China’s economy—away from state-owned enterprises focused on manufacturing and toward support of small- and medium-sized businesses and small private corporations engaged in selling goods and services to China’s new consumer class.

Where U.S.-China relations are concerned, Evans says the leaders of the largest and second-largest economies in the world have more to be gained through cooperation than through economic combat.

Topics: 
Michael Evans is a vice chairman of The Goldman Sachs Group, Inc. and global head of Growth Markets for the firm. He is a member of the Management Committee and the Client and Business Standards...

Share

Share/Save

Viewpoint

04.06.16

Will China Ever Have Its Own Cinematic Superhero?

Anthony Kao
As Batman v Superman attempts to barnstorm cinema box offices worldwide, including in China—now the world’s No. 2 movie marketplace—I’ve been watching a different kind of hero movie: Jian Bing Man.This 2015 Chinese blockbuster isn’t exactly a...

Viewpoint

03.24.16

Why China’s Economy Can’t Collapse

from Radio Free Asia
China’s economic outlook once again became the focus of attention for many last week. For one thing, the Economist Intelligence Unit (EIU) listed the possibility of a hard landing for China’s economy as the topmost of the world’s top 10 risks. There...

Viewpoint

03.24.16

German President Joachim Gauck’s Speech at Tongji University in Shanghai

from Der Bundespräsident
On Wednesday, March 23, German President Joachim Gauck addressed an audience of university students in Shanghai. Among many views not typically aired in public in China, Gauck, a former Luterhan minister and anti-communist organizer, told the crowd...