Host Dr. Elizabeth Economy interviews Oliver Melton, who shares insider perspectives on China's complex economy, drawing from his years as a diplomat in Beijing and his current role at the Rhodium Group. Economy and Melton discuss how China's structural imbalances, high savings rates, and over-investment in real estate have created fundamental economic challenges that the leadership struggles to address through consumption-boosting policies. Melton also evaluates three major Chinese initiatives: the Belt and Road's evolution from sprawling campaign to targeted strategic investments, Made in China 2025's mixed success, and China's approach to de-dollarization focused on sanctions-proofing. The two also touch on the difficulties of US-China economic diplomacy and that any effective response to China's industrial policies requires coordinated action among the US, Europe, Japan, and other allies rather than unilateral American measures.

Recorded on September 11, 2025.

ABOUT THE SERIES

China Considered with Elizabeth Economy is a Hoover Institution podcast series that features in-depth conversations with leading political figures, scholars, and activists from around the world. The series explores the ideas, events, and forces shaping China’s future and its global relationships, offering high-level expertise, clear-eyed analysis, and valuable insights to demystify China’s evolving dynamics and what they may mean for ordinary citizens and key decision makers across societies, governments, and the private sector.