Author of 'The State Strikes Back: The End of Economic Reform in China?'
Senior Fellow at the Peterson Institute for International Economics
Expert on the Chinese economy
Nicholas Lardy is an expert on the Chinese economy. Since 2003, he has been the Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics (PIIE), based in Washington D.C.
Nicholas Lardy is the author of several books on the Chinese economy. These include Markets Over Mao: The Rise Of Private Business In China (2014), and most recently The State Strikes Back: The End Of Economic Reform In China? (2019).
His latest book draws on new data to show that state intervention in the Chinese economy has increased under Xi Jinping. Nicholas Lardy argues that this threatens to stall Chinese growth because it is diminishing the role of the market and private firms. He believes this private sector drove the extraordinary growth of the Chinese economy post-1978.
The book has been described by former US Treasury Secretary, Robert Rubin, as “a must-read for policymakers, businesspeople, and investors with an interest in China’s economic future.”
Nicholas Lardy was previously a senior fellow at the Brookings Institution from 1995 to 2003. He was also the Frederick Frank Adjunct Professor of International Trade and Finance at the Yale University School of Management from 1997 to 2000. From 1991 to 1995 he was the director of the Henry M. Jackson School of International Studies at the University of Washington.
Nicholas Lardy is ideally placed to explain the trajectory of the Chinese economy under Xi Jinping, and its likely future direction. He argues that China could continue growing at high rates for the next twenty years if it reverts to market-focused reforms.
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