Project Syndicate | Jayati Ghosh
China's political and intellectual elites increasingly view the nation's economic transformation as validation of state-led development's superiority over liberal capitalism. However, deep-seated structural issues, specifically economic overcapacity and persistent inequality, suggest that this prevailing triumphalism may be premature. During US President Donald Trump's visit to China, the official narratives surrounding his meeting with Chinese President Xi Jinping exhibited immediate and notable discrepancies, highlighting differing interpretations of the discussions.
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