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Can China Become Innovative?
The following is an abridged version of remarks made by economist Ma Guangyuan to Chinese television and later reproduced widely online. Phoenix Television invited me to give a lecture for the...
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China’s ‘Zombie Enterprises’ Are Tumors Plaguing the Economy
Top Chinese leaders continue to emphasize the need to clean up “zombie enterprises,” large, unproductive, debt-laden, state-owned enterprises that suck up resources and drag down the economy. On Nov....
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Economist: China Needs to Promptly Cut Taxes
An important change in wording has taken place in discussion of tax policy in China: The authorities are directly talking about reducing taxes—and this could become a major theme of economic reform in...
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Why China’s Economy Resembles a Pyramid Scheme
Extremely low annual net profits published by a large number of Chinese listed companies give cause to question China’s economic development model. According to a 2014 report on China’s 2,818 listed...
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How the Fortune 500 List Perfectly Mirrors China’s Distorted Economy
The annual Fortune 500 list was published on July 20. The number of Chinese companies has increased from 106 in 2015 to 110 this year, more than 20 percent of the total list and close to the number of...
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The Decline of Economics and the Rise of Donald Trump
Chinese economist Ma Guangyuan contemplates what the U.S. election results tell us about the absence of ethics in today’s economics, particularly as it relates to China. Trump shock is spreading around...
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Why Basic Property Rights Matter to China’s Economy
During a sea battle in 1571, a Turkish general hid 150,000 gold coins in the cabin of his warship. He was defeated, and his entire wealth ended up at the bottom of the sea. Why did he bring along all...
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