By Madison Smith, Yale University
The goal of this paper is to highlight the importance of China implementing economic reforms in order to avoid a sustained slowdown following decades of substantial GDP growth. Attempting to combat the effects of recent economic decline, the Chinese government has proposed a variety of reforms intended to stabilize the nation’s economy and promote future growth. Using the Hebei Province as a lens to better understand reform opportunities available to greater China, this paper explores three major reforms predicted to generate economic success in Hebei: the 2022 Olympics, Hukou system reform, and the Xiongan New Area. Understanding the impact of these “building blocks” in the Hebei Province offers China an opportunity to model nationwide reforms on Hebei’s success and establish a pathway toward producing economic growth and stabilizing the “Next China.”
Read the full paper here.