Alicia García-Herrero and Alessio Terzi for PS On Point: China's Economy Cannot Export Its Problems Away

Plus a new PS Say More interview, our Summer 2024 Reading List, a sneak peak of the next issue of PS Quarterly magazine, and more [View this message in a web browser]( [PS On Point]( MAY 31, 2024 Chinese leaders have taken great pains to upgrade the country’s industrial capacities, climb the global value chain, and achieve a greater degree of economic self-sufficiency. But the overall result of this strategy has not been as positive as one might expect just by looking at certain top-line figures, write Bruegel's Alicia García-Herrero and Alessio Terzi of the University of Cambridge and Sciences Po. [Read more]( [PS Longer Reads: China’s Economy Cannot Export Its Problems Away]( [China’s Economy Cannot Export Its Problems Away]( By Alicia García-Herrero and Alessio Terzi China continues to treat only the symptoms, rather than the underlying cause, of its economic malaise. It ought to be doing whatever it can to increase domestic consumption and reduce excessive savings; instead it is relying on export markets in a world that is quickly abandoning free trade. [Read more]( [PS. Subscribe to PS starting at just $49.99.]( [PS Say More: Raghuram G. Rajan and Rohit Lamba on Indian job creation, industrial policy, democracy, and more]( [Raghuram G. Rajan and Rohit Lamba on Indian job creation, industrial policy, democracy, and more]( Raghuram G. Rajan and Rohit Lamba argue that India must place the highest priority on creating and owning intellectual property, advocate an alternative to interventionist industrial policies like subsidies, call for the decentralization of Indian governance at every level, and more. Rajan, a former governor of the Reserve Bank of India and chief economist of the International Monetary Fund, is Professor of Finance at the University of Chicago Booth School of Business. Lamba is Visiting Assistant Professor of Economics at New York University Abu Dhabi. They are co-authors of [Breaking the Mold: India’s Untraveled Path to Prosperity](. [Read more]( [Summer 2024 Reading List]( [Summer 2024 Reading List]( with Carla Norrlöf, Katharina Pistor, Tim O'Reilly, and more. PS contributors share books that have impressed them lately, and say why you should consider adding them to your summer reading list. From airplane to beach, and everywhere in between, these books will keep you entertained, inspired, and enlightened all summer long. For a weekly dose of reading inspiration, provided by PS contributors, [sign up for our free]( Recommendations newsletter](. [Read more]( [PS Quarterly: Whom Will America Elect?]( [Whom Will America Elect?]( By Gary Gerstle While many elements of the 2024 US presidential election are unprecedented, others are eerily similar to past contests in which fast-evolving economic and social developments favored the challenger over the incumbent. In such circumstances, dangerous, previously inconceivable outcomes can suddenly become plausible. Enjoy this sneak peak at our forthcoming magazine, PS Quarterly: Age of Extremes, and [subscribe to]( Premium]( to get full access to the magazine when it arrives next month. [Read more]( [PS Longer Reads: The Indian Election and the Country's Economic Future]( [The Indian Election and the Country's Economic Future]( By Raghuram G. Rajan Having recently overtaken its former colonial master to become the world's fifth-largest economy, India's star certainly appears to be rising. But if the country remains committed to the current government's development strategy, the economy could lose its momentum well before achieving escape velocity. [Read more]( [PS. View all of our newsletter offerings and select your preferences]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.