Chinese Whispers: was China's economic boom 'made in America'?

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🗓️ 22 January 2024

⏱️ 53 minutes

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Summary

Today, the US and China are at loggerheads. There’s renewed talk of a Cold War as Washington finds various ways to cut China out of key supply chains and to block China’s economic development in areas like semiconductors and renewables.

There’s trade, of course, but the imbalance in that (some $370 billion in 2022) tilts in China’s favour and only serves as another source of ammunition for America’s Sinosceptics. China, on the other hand, is also decoupling in its own way, moving fast to cut its reliance on imported technology and energy.

At this moment, it seems like US-China tensions are inevitable – but look into the not so ancient history, and you’ll find a totally different picture. In fact, when it comes to Communist China’s early entry into the global economy, American policymakers and businesspeople were vital in the 1970s and 80s. You could even say that a big part of China’s economic success was ‘Made in America’.

Cindy Yu is joined on the podcast by Elizabeth Ingleson, Assistant Professor of International History at the LSE, whose upcoming book contains some very interesting research on this question. It’s called Made in China: When US-China Interests Converged to Transform Global Trade. Cindy and Elizabeth discuss President Nixon's visit to China and how that opened up decades of American economic support to the Chinese miracle – including at the expense of its own workers.

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Transcript

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0:00.0	The Spectator magazine combines incisive political analysis with books and arts reviews of unrivaled authority. Absolutely free. Go to spectator.com.uk forward slash voucher.
0:31.5	Hello and welcome to Chinese Whispers with me, Cindy Yu. Every episode, I'll be talking to
0:36.4	journalists, experts and long-time China
0:38.3	watches about the latest in Chinese politics, society and more. There'll be a smattering
0:43.5	of history to catch you up on the background knowledge and some context as well. How did the
0:47.9	Chinese see these issues? Today, the US and China are at loggerheads. There's a renewed talk of a cold war, as Washington finds various ways to cut China out of key supply chains and to block China's economic development in areas like semiconductors and renewables.
1:05.2	There's trade, of course, but the imbalance in that, some $370 billion in 2022, tilts in China's favour and only serves as another
1:13.8	source of ammunition for America's Sino-Sceptics. And of course, very much similar things are
1:18.9	happening from the Chinese side too. At this moment, it seems like US-China tensions are inevitable
1:23.8	and have been around for ages. But looking to the not-so-an ancient history, and you'll find a totally different picture. In fact, when it comes to communist China's early
1:32.0	entry into the global economy, American policymakers and business people were vital in the
1:37.2	1970s and 80s. You could even say that a big part of China's economic success was
1:42.7	Made in America.
1:48.5	I'm joined today by Elizabeth Inglson, assistant professor of international history at the LSC,
1:51.8	whose upcoming book contains some very interesting research on this question.
1:56.6	It's called Made in China, when US-China interests converge to transform global trade.
1:58.6	Elizabeth Ingelson, welcome to Chinese whispers.
2:01.4	Hi, Cindy. Thank you so much for having me. It's a real pleasure.
2:06.8	Now, I think listeners know all about the miracles of China's economic growth, lifting 800 million people out of poverty in just five decades, blah, blah, blah, blah. Most people put that down
2:11.4	to Denzel Pings economic reforms after 1978. But you say in your book that actually China started
2:16.9	opening up even before then under Mao.
2:19.4	Can you take us back to the 1970s and what was happening before then?
	...

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