News Analysis
Alan Greenspan’s China record shifted from support for market-opening policies, such as permanent normal trade relations, to later warnings about the persistence of state-directed finance, administrative controls, and China’s hesitation to allow companies to default.
Greenspan, the former Federal Reserve chairman who died on June 22 at age 100, made his strongest public case for China’s market integration in May 2000 during White House remarks, when then-President Bill Clinton was pressing Congress to approve permanent normal trade relations ahead of China’s entry into the World Trade Organization (WTO).
In those remarks, Greenspan argued that WTO-linked market opening would expand global efficiency, lift living standards, weaken central planning, and broaden individual rights inside China….Â
Alan Greenspan’s China Views Shifted From WTO Optimism to Warnings on State Control
