Far Eastern Economic Review in one of its last issues ran an op-ed by Daniel Lynch of the USC College on how the recession has affected China.
Lynch writes that while China stated that it suffered only a mild economic downturn, its government launched a massive stimulus program, which could cause inflation and ultimately an unstable recovery.
He also discusses how China’s elites, accustomed to rapid economic gains and a rising position for China, will respond to tougher times.
He writes, "China’s leaders might have to make concessions of a kind that they never would have imagined, let alone wished to see. They might have to contemplate liberalization."
USC in the News reports that Daniel Lynch is a member of the USC U.S.-China Institute executive committee and teaches in the USC School of International Relations. He’s the author of numerous articles. His most recent book is "Rising China and Asian Democratization (2006)". He’s currently researching elite Chinese views of the country’s future.
The Far Eastern Economic Review in which this was published has fallen on hard times. It is no longer published.