A damaged logo of Chinese real estate developer Vanke at a residential housing complex in Zhengzhou, Henan Province, China, on Aug. 30, 2023. AFP via Getty Images
China proclaims to the world the virtues of its socialist market economy. It wants the benefits and blessings of a market economy with all the control of rigid, centralized authoritarian communism. Herein lies the eternal conundrum of governance.
Christopher Balding was a professor at the Fulbright University Vietnam and the HSBC Business School of Peking University Graduate School. He specializes in the Chinese economy, financial markets, and technology. A senior fellow at the Henry Jackson Society, he lived in China and Vietnam for more than a decade before relocating to the United States.
