Xi Jinping As An Ordoliberal: China's Margins For Growth In 2022

{
  "authors": [
    "François Godement"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "asia",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "AP",
  "programs": [
    "Asia"
  ],
  "projects": [],
  "regions": [
    "East Asia",
    "China"
  ],
  "topics": [
    "Economy"
  ]
}

In The Media

Xi Jinping As An Ordoliberal: China's Margins For Growth In 2022

Since the coronavirus outbreak of early 2020, and even more since early 2021, China has maintained restrictive policies for the public budget, credit and interest rates. There may therefore be more margins for government action and support to the economy than generally recognized.

By François Godement

Published on Feb 11, 2022

Institut Montaigne

About the Author

François Godement

Former Nonresident Senior Fellow, Asia Program

Godement, an expert on Chinese and East Asian strategic and international affairs, was a nonresident senior fellow in the Asia Program at the Carnegie Endowment for International Peace.

Recent Work

Other
Reorienting China Policy By Working With Europe
- François Godement, Ashley J. Tellis
In The Media
China at the Gates: A New Power Audit of EU-China Relations
- François Godement, Abigaël Vasselier

Economy East Asia China

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie China

Commentary
China’s Energy Security Doesn’t Run Through Hormuz but Through the Electrification of Everything
Across Asia, China is better positioned to withstand energy shocks from the fallout of the Iran war. Its abundant coal capacity can ensure stability in the near term. Yet at the same time, the country’s energy transition away from coal will make it even less vulnerable during the next shock.

Damien Ma
Commentary
Emissary
The Xi Doctrine Zeros in on “High-Quality Development” for China’s Economic Future
In the latest Five-Year Plan, the Chinese president cements the shift to an innovation-driven economy over a consumption-driven one.
Damien Ma
Commentary
When It Comes to Superpower Geopolitics, Malaysia Is Staunchly Nonpartisan
For Malaysia, the conjunction that works is “and” not “or” when it comes to the United States and China.
Elina Noor
Commentary
ASEAN-China Digital Cooperation: Deeper but Clear-Eyed Engagement
ASEAN needs to determine how to balance perpetuating the benefits of technology cooperation with China while mitigating the risks of getting caught in the crosshairs of U.S.-China gamesmanship.
Elina Noor
Commentary
Neither Comrade nor Ally: Decoding Vietnam’s First Army Drill with China
In July 2025, Vietnam and China held their first joint army drill, a modest but symbolic move reflecting Hanoi’s strategic hedging amid U.S.–China rivalry.
Nguyễn Khắc Giang

More Work from Carnegie China

Commentary

China’s Energy Security Doesn’t Run Through Hormuz but Through the Electrification of Everything

Across Asia, China is better positioned to withstand energy shocks from the fallout of the Iran war. Its abundant coal capacity can ensure stability in the near term. Yet at the same time, the country’s energy transition away from coal will make it even less vulnerable during the next shock.

Damien Ma

Xi walking into a room with people standing and applauding around him

Commentary

Emissary

The Xi Doctrine Zeros in on “High-Quality Development” for China’s Economic Future

In the latest Five-Year Plan, the Chinese president cements the shift to an innovation-driven economy over a consumption-driven one.

Damien Ma

Commentary

When It Comes to Superpower Geopolitics, Malaysia Is Staunchly Nonpartisan

For Malaysia, the conjunction that works is “and” not “or” when it comes to the United States and China.

Elina Noor

Commentary

ASEAN-China Digital Cooperation: Deeper but Clear-Eyed Engagement

ASEAN needs to determine how to balance perpetuating the benefits of technology cooperation with China while mitigating the risks of getting caught in the crosshairs of U.S.-China gamesmanship.

Elina Noor

Commentary

Neither Comrade nor Ally: Decoding Vietnam’s First Army Drill with China

In July 2025, Vietnam and China held their first joint army drill, a modest but symbolic move reflecting Hanoi’s strategic hedging amid U.S.–China rivalry.

Nguyễn Khắc Giang