China’s new political-economic trajectory: Party-led state capitalism and its global implications
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Since 1978, China’s economic transformation has been driven by gradual market reforms, decentralization, and selective openness to foreign investment. While many expected these steps to lead to a liberal market economy, China has instead developed a hybrid system — combining state planning with market mechanisms, private and state ownership, and with strong Party control across both public and private sectors. Often described as “party-led state capitalism,” this model is central to Xi Jinping’s vision of “Socialism with Chinese Characteristics for a New Era”, where the fundamental belief of the CCP is that the Party must guide, steer and protect the economy, and the main purpose of the private sector is to support the transformation towards political goals and priorities. In his talk, Kasper Ingeman Beck will explore how China’s current political-economic structures evolved and their shape today. He will look at what they mean for international business and geopolitics as global markets are being reshaped by tensions between open economies and state-driven capitalism.
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