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When Xi Jinping abruptly ended his draconian Zero Covid lockdown late last year, most experts predicted the Chinese economy would come roaring back. Instead, it has stagnated, complicating existing challenges such as a struggling real estate sector and soaring youth unemployment. Now there are signs of deflation and a debt overhang reminiscent of what Japan experienced 30 years ago at the beginning of its “Lost Decades.” Can China avoid that fate, and if not, what are implications for Taiwan and the rest of the world?
The views expressed are those of the speaker and do not necessarily reflect East-West Center policies or positions.
Speaker's Bio:
Richard Hornik is an Adjunct Senior Fellow at the East-West Center. During his 40-year career in journalism he served as Executive Editor of AsiaWeek, News Service Director of TIME magazine, and TIME’s Bureau Chief in Warsaw, Boston, Beijing and Hong Kong. He co-authored Massacre in Beijing: China’s Struggle for Democracy, and has written on China for Foreign Affairs, Fortune, The New York Times and Wall Street Journal. He also served as Interim Editor of the Harvard Business Review. Mr. Hornik was a Lecturer at Stony Brook University from 2007-19, where he helped develop and propagate its innovative News Literacy curriculum now used in over 40 universities worldwide. He was a Visiting Lecturer at Hong Kong University in 2012 and at the University of Hawaiʻi at Mānoa in 2015, where he was also the inaugural Daniel K. Inouye Visiting Scholar.
When Xi Jinping abruptly ended his draconian Zero Covid lockdown late last year, most experts predicted the Chinese economy would come roaring back. Instead, it has stagnated, complicating existing challenges such as a struggling real estate sector and soaring youth unemployment. Now there are signs of deflation and a debt overhang reminiscent of what Japan experienced 30 years ago at the beginning of its “Lost Decades.” Can China avoid that fate, and if not, what are implications for Taiwan and the rest of the world?
The views expressed are those of the speaker and do not necessarily reflect East-West Center policies or positions.
Speaker's Bio:
Richard Hornik is an Adjunct Senior Fellow at the East-West Center. During his 40-year career in journalism he served as Executive Editor of AsiaWeek, News Service Director of TIME magazine, and TIME’s Bureau Chief in Warsaw, Boston, Beijing and Hong Kong. He co-authored Massacre in Beijing: China’s Struggle for Democracy, and has written on China for Foreign Affairs, Fortune, The New York Times and Wall Street Journal. He also served as Interim Editor of the Harvard Business Review. Mr. Hornik was a Lecturer at Stony Brook University from 2007-19, where he helped develop and propagate its innovative News Literacy curriculum now used in over 40 universities worldwide. He was a Visiting Lecturer at Hong Kong University in 2012 and at the University of Hawaiʻi at Mānoa in 2015, where he was also the inaugural Daniel K. Inouye Visiting Scholar.
China Seminars
The China Seminar was established by Dr. Daniel W.Y. Kwok in 1977. Under his guidance, it became a signature program of the Friends of the East-West Center (FEWC) in 2009. The program provides an informal venue for China experts, such as scholars, diplomats, and journalists, to present talks on aspects of China that interest the community and members of the Friends.
