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Hongshen Zhu Profile picture
Hongshen Zhu
@HongshenZhu
https://t.co/upl1tNsQjW. Assistant Professor @lingnanuni. PhD @DukePoliSci. Previous @CsccPenn & @UVA. Chinese bureaucracy/politics, political economy.
Jul 9 • 11 tweets • 3 min read
Zhu Rongji is remembered as the iron-willed reformer who "grasped the large and let go the small"-gutting China's state sector and setting up two decades of boom. But what did that reform do to how ordinary Chinese see their government? Our new paper @PolBehavior has an answer. Image @PolBehavior The scale was staggering: from 1998–2007, over 80% of SOEs were shut or privatized. ~5.7 trillion RMB in state assets went private. More than 40 million workers — once the "aristocracy of Chinese labor" — were laid off.
Sep 12, 2024 • 6 tweets • 3 min read
This clarification is shocking. Only 50,000 companies registered in China in the best year in the past 16 years? My above-scale industrial firm dataset in 2000 has more firms than the entire chart…
Image In case there is an attempt to walk back by saying it’s just VC-backed startups intead of companies in general, the author was citing minimum capital requirements by banks in registering companies... I can’t think of a scenario where this would be an issue for VC-backed startups. Image
Jun 29, 2023 • 7 tweets • 3 min read
Another factor is China relies on in-kind transfer to redistribute very much. It accounts for 6.7% of GDP in 2020 and is consumed by households but paid by government. This would put China on par with Australia in stead of an outlier. One may argue in-kind transfer thru government procurement of goods/services is a less efficient way to redistribute than direct transfer. But somehow it becomes a way how
China conducts welfare state while criticising Western welfarism.
Oct 20, 2022 • 4 tweets • 1 min read
Taiwan is the latest example to exit Zero-Covid and has a similar elderly share (~15%) with mainland China. 11,000 Covid deaths are recorded since May 14. If Beijing extrapolates from this figure, they will expect 700k Chinese dying in five months. Hard to accept for BJ. And it is a wild bet to think mainland can perform as well as Taiwan given CN vaccines need 3 doses to achieve the same protection of 2-dose mRNA and Taiwan has a better funded healthcare system.