The Bird and the Cage

The Chinese Communist Party’s complex and contradictory embrace of capitalism has played a pivotal role in shaping China’s economic reforms since the late 1970s. This book explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping’s recent efforts to tighten control over the Chinese economy. The book evaluates the broader implications of these policies for China’s economic trajectory and its global trade relationships. Nicholas Borst is Vice President and Director of China Research at Seafarer Capital Partners. Previously, he was a Senior China Analyst at the Federal Reserve Bank of San Francisco and the China Program Manager and a research associate at the Peterson Institute for International Economics. Nicholas has also worked as an analyst at the World Bank. His research and commentary have been featured in The Financial Times, The Wall Street Journal, and The Economist. He was a Fellow of the National Committee on U.S.-China Relations’ Public Intellectuals Program and has testified before the U.S.-China Economic and Security Review Commission. Nicholas holds a Bachelor’s degree from the University of Arizona, a Master’s degree from Johns Hopkins University, and is a CFA charterholder.