Steven Suranovic, PhD, Associate Professor of Economics and International Affairs Institute for International Economic Policy, George Washington University
China is the second largest economy in the world, second only to the United States and has achieved extraordinary economic growth over last two decades.
The growth of the Chinese economy is export driven combined with a huge domestic housing building boom fueled by cheap money from state owned banks.
Since Xi Jinping became President he has moved China away from the “Free Market” by increasing the role of the Chinese Communist Party (CCP) in all sectors of the economy and society. He also changed the constitution to allow himself an unprecedented third term.
The Chinese economy has started to slow down and that has revealed growing cracks in the economic outlook for China. Over the past ten years the Chinese Communist Party has refused to address the growing imbalances in the Chinese economy and every year the problems grow worse requiring even more drastic actions to save the economy.
Professor Suranovic will explore the rise of the Chinese economy, the movement of China away from a relatively “Free Markets” and the decision by President Xi Jinping to centralize power for himself and the Chinese Communist Party.
Steven Suranovic is an Associate Professor of Economics and International Affairs at the George Washington University. He is the former Director of the GW Global Bachelor’s program (Asia-Pacific), and a former Director of the Elliot School’s Masters in International Economic Policy. His research includes theoretical analysis of the role of ethics in economics, international trade policy, behavioral models of addiction, energy policy, and climate change policy.
Professor Suranovic received his B.S. in mathematics from the University of Illinois at Urbana/Champaign and his M.S. and Ph.D. in economics from Cornell University. He has published in numerous academic journals, and has written one book titled, "A Moderate Compromise: Policy Choice in an Era of Globalization," published by Palgrave-Macmillan. He maintains two educational websites, The International Economics Study Center and The Ethical Economics Study Center
In Fall 2002, he taught at Sichuan University in Chengdu, China, as a visiting Fulbright lecturer. Since 2017 he has taught for the Global Bachelor’s program at Fudan University in Shanghai, and after Covid, in New Zealand, Chile and Singapore.