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

01.28.16

The Trouble with Hong Kong’s Chief Executives

Denise Y. Ho & Alyssa King
On January 14, the trial of Sir Donald Tsang, Hong Kong’s former chief executive who served from 2005 to 2012, was set for January 3 of 2017. This past December, Tsang pleaded not guilty to two counts of misconduct in public office, charges on which...

Viewpoint

01.21.16

After a Landslide Election, Now Comes the Hard Part for Taiwan's President

William Kazer
Taiwan elected its first woman president on Saturday in a landslide victory that brought a nominally pro-independence party back to power after eight years in opposition.Tsai Ing-wen led her Democratic Progressive Party to a thumping victory,...

Viewpoint

01.15.16

China’s New Development Bank Needs Better Human Rights Protections

Nicholas Bequelin
On January 16, the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) will meet in Beijing to formally launch its operations.A symbol of China’s growing clout on the international scene, the AIIB attracted 57 founding members,...