China has important islands of technological excellence, even dominance, but these islands exist in a sea of macroeconomic imbalances and headwinds. Xi Jinping is adamant that by focusing on technology, and other aspects of national security, China can hold sway in the global system and determine global governance. Many western economists and even some in China are not so sure, choosing to wonder if the government has the political capacity to address deep-seated economic problems.

This lecture was recorded by George Magnus on the 3rd of November 2025 at Barnard’s Inn Hall, London.

George Magnus is a Research Associate at the China Centre, Oxford University, and at the School of Oriental and African Studies, London, a Member of the China Foresight Forum at LSE IDEAS, and an advisory board member of the China Observatory, a non-partisan initiative at the Council on Geostrategy.

The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/watch-now/china-economics

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