Long Read: Economist Suggests a Down-to-Earth Approach for Deepening China’s Reform

Tsinghua University professor Qian Yingyi said China must develop a realistic understanding of itself and the world in order to fully achieve its development goals

Qian Yingyi, economist and professor at Tsinghua University’s School of Economics and Management. Photo: AI generated

To celebrate Caixin’s 15th anniversary, we are republishing a series of interviews with some of the most influential economists, business leaders and government officials in China. A look back at what they said offers insights into some of the most pressing issues of today, such as global financial headwinds.

In 2010, amid the lingering repercussions of the global financial crisis, then-Caixin Editor-in-Chief Hu Shuli had an in-depth conversation with Qian Yingyi, an economist and professor at the School of Economics and Management of Tsinghua University. Around that time, China managed to mitigate the ripple effects of the crisis with a 4 trillion yuan ($604 billion) stimulus plan, allowing the country to use its strength as the “world’s factory.”