Odd Arne Westad on how China First Joined the Global Capitalist Economy

Bullish

• $ENTREP— The rapid changes in China's attitude towards entrepreneurship during economic reforms suggest potential for economic growth driven by entrepreneurial activity.

  • “From one day to the next, things that have been seen as being true forever were no longer true. Right? And and things changed so very quickly. And entrepreneurs who had, a few weeks earlier, had been put in prison for their activities, were suddenly held up as heroes of economic development.”

    Unknown·31:28Hear it

Bearish

• $CHINA— The current economic outlook for China appears negative, with widespread uncertainty among Chinese people about the country's direction and reasons for its policies.

  • “At the moment, absolutely not. I think it's very, very clear that a lot of people in China do not understand where the country is heading and what the reasons are.”

    Unknown·42:23Hear it
• $POLLIBER— Despite economic reforms, China's leadership under Deng Xiaoping made it clear that there would be no political liberalization, maintaining Communist Party control and limiting freedoms.

  • “By 1984 or thereabouts, that period has ended. Deng is laying down the law saying the direction that China will go in is one of increased, deepening market reform and communist party control. There will be no pluralism of any sort. There will be no freedom of speech.”

    Unknown·37:15Hear it

Not investment advice.