Economist on the Future of China and What the West Misunderstands | Amanpour and Company

Summary

The discussion focuses on the complex relationship between the U.S. and China, particularly in light of recent tensions like the Chinese spy balloon incident. Economist K.U. Jin, who has deep ties to both countries, emphasizes the need for open dialogue and mutual understanding. She highlights misunderstandings on both sides, the impact of China's internal policies, and the evolving aspirations of the younger Chinese generation. Jin also touches on China's practical approach to global influence, contrasting it with the U.S.'s ideological spread of democracy.

Takeaways

• 🌍 The U.S. and China are trying to reset relations, with the U.S. Secretary of State visiting Beijing soon.
• 🎈 The visit was previously postponed due to the U.S. shooting down a Chinese spy balloon.
• 📈 China is a rising power with global aspirations, seeking more influence in the world order.
• 🗣️ Both nations are pointing fingers at each other, but there is a mutual desire to stabilize relations.
• 🤝 Dialogue between the U.S. and China is crucial, focusing on specific issues rather than broad tensions.
• 💼 China sees U.S. technology restrictions as the new normal but hopes for normal trade and investment relations.
• 🤔 Americans often misunderstand China's centralized but innovative economic system.
• 🔄 Chinese also misunderstand the U.S., believing it wants to suppress China’s growth.
• 📚 The assumption that globalization would lead to political liberalization in China was a mistake.
• 📊 Surveys show that younger Chinese generations are more open-minded, but they prioritize security over freedom.

Q & A

What is the context of the upcoming visit by the U.S. Secretary of State to China?

The visit by the U.S. Secretary of State to China is an effort to reset relations between the two countries after a previous meeting was canceled due to the U.S. shooting down a Chinese spy balloon over its airspace.

How does KU Jin view the issue of surveillance between the U.S. and China?

KU Jin acknowledges that surveillance is a common practice among nations, including rising powers like China. She suggests that China's actions are often seen as aggressive but are part of its aspirations to have greater influence globally.

What does KU Jin believe the U.S. should focus on during the upcoming talks with China?

KU Jin believes that the U.S. should maintain open dialogue channels with China and focus on specific issues where China can be pushed to negotiate or change, rather than allowing tensions to corrode the overall economic and trading relationship.

What fundamental misunderstandings does KU Jin think Americans have about China?

KU Jin suggests that Americans often misunderstand China's unique economic system, particularly the decentralized mechanisms that have driven China's success. She also notes that Americans may not fully grasp the cultural and historical perspectives that shape Chinese views on state intervention.

Does KU Jin believe that Chinese leadership has misunderstandings about the U.S.?

Yes, KU Jin believes that Chinese leadership misunderstands the U.S.'s intentions, particularly the idea that the U.S. wants to suppress China's growth. She argues that China underestimates the potential for dialogue and the benefits of opening up its economy further.

Why did the assumption that increased trade with China would lead to liberalization not hold true?

KU Jin explains that the assumption that globalization would lead to convergence in political systems was a mistake. While there have been some superficial convergences, China's identity remains firmly local, and political liberalization has stalled despite increased trade.

What is KU Jin's view on the Chinese public's current aspirations for freedom and security?

KU Jin notes that while the younger generation in China may aspire to a freer and more open society, many still prioritize security over freedom, reflecting a different cultural perspective compared to Western societies.

How reliable does KU Jin consider the surveys on Chinese public opinion, particularly regarding their views on the U.S.?

KU Jin considers the surveys on Chinese public opinion, such as the World Value Surveys, to be reliable. She notes that these surveys indicate a shift in sentiment towards the U.S., particularly after 2017, influenced by the external environment and perceived pressures on China.

How has China's relationship with its people evolved following the zero-COVID policy?

KU Jin explains that while the Chinese public initially supported the zero-COVID policy, the lack of policy evolution as the virus changed led to widespread dissatisfaction. The eventual pivot by the government in response to public discontent demonstrates the influence of public opinion on Chinese governance.

What does KU Jin believe about China's ambitions regarding spreading its ideology globally?

KU Jin asserts that China does not aim to export its ideology or development model globally. Instead, China focuses on practical matters, such as sharing its expertise in infrastructure development with developing countries, rather than spreading ideological beliefs.