China's Economic Legacy and Future Risks: From Zhu Rongji's Reforms to Overcapacity Concerns

Amid this retrospective, analysts are warning that China's industrial overcapacity could trigger the next global economic crisis. A Foreign Affairs article suggests that the same manufacturing dominance Zhu helped build now faces a reckoning, as excess production capacity in key sectors may lead to deflationary pressures and trade tensions worldwide. This concern is juxtaposed with China's continued technological ambitions, such as a recent experimental bullet train reaching 497 mph, highlighting the nation's ongoing push for innovation despite economic uncertainties.