Tempestuous Seasons: Keynes in China
Adam Tooze, 13 September 2018
If, faced with fundamental environmental challenges, Keynesianism is reaching its ultimate limit, will it end with a whimper or a bang? Beijing faces the classical Keynesian dilemmas raised to a new level of extremity. Xi’s ‘Chinese dream’ is the most spectacular Keynesian promise ever made. The underlying fear of domestic unrest is palpable, the scale of repression is astonishing, but so is the gamble on growth.