Too often, debate about the relationship between the state and the market casts them as opposing forces locked in a zero-sum struggle. But this simplistic approach quickly renders constructive discussion a casualty of the ideological battle between advocates of state and market capitalism.

Commenting on the recent US-China 2022 report, He Weiwen outlines how bilateral trade between China and the US is expected to grow over the next ten years and how this will be beneficial for both countries.

China’s successful transformation from a middle-income country to a modern, high-income country will depend largely on the reforms that the government undertakes over the next decade. But, because the most pressing reform – interest-rate liberalization – carries both risks and rewards, officials should be prudent in their approach.

US-China 2022 is a new report and series of events projecting the economic growth possible from the bilateral relationship over the next 10 years, and submits policy recommendations to both the United States and Chinese governments to maximize potential benefits.

U.S.-China Economic Relations in the Next Decade Part 3: Keynotes

U.S.-China Economic Relations in the Next Decade: Part1 Panel

From a medium and long-term point of view, a race between reform and crisis will be inevitable, says Zhang Monan. China must perfect its central and local financial systems, and create a framework for the control of financial debt risks at the earliest date possible.

The recent publication of Visa’s International Financial Literacy Barometer has sparked interest in the United States’ mature financial sector and China’s still-developing financial markets. Noting the low ranking of China and Hong Kong, Michael Justin Lee explains that being financially literate will not only help Asia’s young finance sector boon, but will also improve the world’s future economic outlook.

China’s declining GDP has sent shockwaves through the financial sector as analysts begin to question China’s long-term economic strategy. As Minxin Pei points out, “zombie firms,” or companies primarily supported through bank loans and government subsidies, are complicating China’s sustained growth. By eliminating these firms and instituting reforms, China can bolster innovation and ensure the opening of its economic markets.

Although China’s slowing growth has caused a stir amongst analysts; He Weiwen explains China’s growth rate is not of concern.