Is China Knocking on Deflation’s Door?

Economists Divided Over Dangers to the Economy

China’s last war against deflation was waged in 1998, the year the nation’s consumer price index and producer price index suddenly plunged in tandem.

The central government responded by launching economic and administrative reforms, hastening steps for joining the World Trade Organization, and steering public funds into infrastructure projects. The efforts paid off quickly: In a couple of years, the war was over and the economy was growing again.

American Students in China: It’s Not as Authoritarian as We Thought

For some American students about to embark on a study abroad trip to China, the U.S. media reports of Chinese Internet censorship, jailing of dissidents, and draconian population control laws may dominate their perception of the country. But after more than 30 years of reform and opening, the nominally communist country now combines economic liberalization, lumbering social and legal reforms, and spurts of ideological entrenchment to create a dynamic mix of restriction and freedom that’s hard to parse.

Gavin Cross

Gavin Cross advises Chinese and international companies on public affairs and issue management, helping clients navigate domestic regulatory matters as well as cross-border challenges. Now based in Shanghai at advisory firm Brunswick Group, he has held previous roles leading research and editorial teams at Caixin Insight and China Policy. He is a graduate of Rice University, with a B.A. in Asian Studies and Policy Studies.

The Yellow River

Flowing through the heart of the North China Plain―home to 200 million people―the Yellow River sustains one of China’s core regions. Yet this vital water supply has become highly vulnerable in recent decades, with potentially serious repercussions for China’s economic, social, and political stability. The Yellow River is an investigative expedition to the source of China’s contemporary water crisis, mapping the confluence of forces that have shaped the predicament that the world’s most populous nation now faces in managing its water reserves.

Chinese governments have long struggled to maintain ecological stability along the Yellow River, undertaking ambitious programs of canal and dike construction to mitigate the effects of recurrent droughts and floods. But particularly during the Maoist years the North China Plain was radically re-engineered to utilize every drop of water for irrigation and hydroelectric generation. As David A. Pietz shows, Maoist water management from 1949 to 1976 cast a long shadow over the reform period, beginning in 1978. Rapid urban growth, industrial expansion, and agricultural intensification over the past three decades of China’s economic boom have been realized on a water resource base that was acutely compromised, with effects that have been more difficult and costly to overcome with each passing decade. Chronicling this complex legacy, The Yellow River provides important insight into how water challenges will affect China’s course as a twenty-first-century global power.―Harvard University Press