Yuen Yuen Ang (University of Michigan)

Portrayals of China’s political economy tend to be divided, with one side depicting it as a Confucian-style meritocracy, and the other arguing that the regime is a kleptocracy. In fact, neither view is correct: in the Chinese officialdom, competence and corruption can go hand in hand. Drawing on her new book, China’s Gilded Age (Cambridge University Press, 2020), Ang underscores that paradoxes define China’s political economy. Chinese growth is speedy yet risky and imbalanced. Corrupt officials worship the pursuit of prosperity. China’s regime is authoritarian yet its regions are decentralized and highly competitive. Understanding China requires that we grasp these seeming paradoxes, which will persist well into the next decade.