The global economy is facing numerous challenges and China, in particular, is grappling with its own set of issues. Despite the weak demand within China, there has been a significant increase in Chinese manufacturing exports, particularly in the green technology sector such as electric vehicles. However, this surge in exports has caused friction with other countries including the United States and Europe, who accuse China of exporting overcapacity and undermining their efforts in green industries.
In a recent discussion with Roland Rajah, Director of the Indo-Pacific Development Centre (IPDC), Dr Bert Hofman explored various aspects of China’s development model. He touched on the concept of “Peak China,” examined whether China is indeed exporting overcapacity and considered the implications for developing nations. Dr. Hofman brings three decades of experience from his time at the World Bank, where he served as director of the China country office.
As tensions continue to rise between countries regarding China’s economic practices, it is crucial for the international community to understand its complexities and potential responses. Dr. Hofman’s insights shed light on the challenges that China poses for global trade and development in an increasingly interconnected world. It is important to shape effective policies and strategies that take into account these challenges if we are to navigate a successful future together.
