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China in One Country: interdependence or globalisation 'with Chinese characteristics'?

George Magnus


George Magnus

LSE IDEAS Associate

Globalisation has faltered, and faces significant political challenges. In both the US and China, voices are calling for a reduction of economic interdependence between the two countries. In the US, this has taken the name of decoupling, in China, self-reliance. At the same time, China’s President, Xi Jinping has vocally championed globalisation in various global fora in recent years. Understanding of China’s systems of government and business, as well as its global interests, is lacking when compared to that of the US.

In this Strategic Update, George Magnus investigates what is meant when China’s leadership speaks of globalisation, and what the implications of the answer are for the rest of the world.

Read the online edition:

China in One Country

Download the PDF:

China in One Country

About the Author

George Magnus is Research Associate at the China Centre, Oxford University, and at the School of Oriental and African Studies, London. George was the Chief Economist, and then Senior Economic Adviser at UBS Investment Bank from 1995-2016. He had previously worked as the Chief Economist at SG Warburg (1987-1995), and before that at Laurie Milbank/Chase Securities, Bank of America and Lloyds Bank. His written work and a blog can be found on his website at George’s current book, Red Flags: why Xi’s China is in Jeopardy, was published in 2018 by Yale University Press, and then in paperback in August 2019 with newly commissioned material.