In attempting to modernize its governance structure, China must reimagine its relationship between its central government and local authorities, despite the risks involved.

China’s economic exceptionalism is now being threatened by a perfect storm of existing stresses – namely, the domestic debt build-up – and new complications, including US trade barriers, the geopolitical pushback against China’s Belt and Road Initiative (BRI), and tightening monetary conditions, particularly in the United States.

While some observers are concerned by the fall of the Chinese currency, past experience offers a clear lesson: don’t panic.

By rejecting old theories and embracing competition among its cities, China is creating domestic demand that can fuel its future development.

What might happen to the Chinese fintech industry as a result of the growing trade conflict with the U.S.?

The Chinese economy has to adapt in order to remain stable.

In the face of an uncertain global environment and systemic risks, China must continue its reform and opening up policy to ensure economic stability.

The strategic perception that U.S. trade measures against China could provoke a Chinese debt crisis and thus coerce the CPC into early commercial capitulation is based on a grave miscalculation of Chinese economic fundamentals. This misjudgment could escalate and prolong an otherwise limited trade war with disastrous consequences for China-U.S. relations and the global economic order.

Beginning the year with a drastic restructuring of the Constitution, the Chinese Communist Party under President Xi appeared increasingly formidable. But in the face of domestic scandals, currency concerns, and a trade war with the U.S., Minxin Pei argues that President Xi may need a new strategy to satisfy the Chinese people.

China seems determined to avoid a serious financial crisis, but as a result, credit continues to expand at an unsustainable rate. A reckoning must eventually come, argues James Nolt.