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China and COVID-19: a shock to its economy, a metaphor for its development

Magnus, George (2020) China and COVID-19: a shock to its economy, a metaphor for its development. Strategic Updates (February 2020). LSE IDEAS, London School of Economics and Political Science, London, UK.

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Abstract

The Chinese government’s draconian actions to control the coronavirus seem to be producing a remarkable economic contraction. As so many are unable to attend or resume work at the moment, the government’s palliative economic measures may gain little traction. Although the demand shock will eventually fade, other longer-term issues will surely endure. The supply shock will be less obvious but more corrosive. The government’s questionable conduct in managing the public health crisis has unveiled significant features about governance in Xi’s China that can be mapped on to China’s development. While this crisis is the biggest challenge Xi has faced, there is little doubt that he will survive it, champion the party’s role in the nation’s rescue, and feel emboldened to continue with his authoritarian governance. Yet it is this that, in the long run, will prove incompatible with China’s economic development ambitions.

Item Type: Monograph (Working Paper)
Official URL: https://www.lse.ac.uk/ideas/publications/updates/c...
Additional Information: © 2020 The Author
Divisions: IGA: LSE IDEAS
Subjects: H Social Sciences > HV Social pathology. Social and public welfare. Criminology
R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
J Political Science > JQ Political institutions Asia
H Social Sciences > HC Economic History and Conditions
Date Deposited: 08 Dec 2020 11:21
Last Modified: 16 Dec 2020 01:14
URI: http://eprints.lse.ac.uk/id/eprint/107793

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