- China
- Economics
- Confronting and Competing with China
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 SPEAKERS
Oliver Melton is a director with Rhodium Group’s China practice, advising the firm's senior clients and overseeing research on China’s economic policy and political dynamics. Prior to joining Rhodium Group, Melton spent five years as the US Treasury Department Financial Attaché in China, where he advised Treasury leadership and the US ambassador. He was intimately involved in high-level discussions and negotiations on trade frictions, industrial policy, sanctions, and financial regulation.
Melton has a bachelor’s degree from the University of Chicago and a master’s degree from Harvard’s Kennedy School of Government.
Follow Oliver Melton on LinkedIn: Oliver Melton
Elizabeth Economy is the Hargrove Senior Fellow and co-director of the Program on the US, China, and the World at the Hoover Institution. From 2021-2023, she took leave from Hoover to serve as the senior advisor for China to the US Secretary of Commerce. Before joining Hoover, she was the C.V. Starr Senior Fellow and director, Asia Studies at the Council on Foreign Relations. She is the author of four books on China, including most recently The World According to China (Polity, 2021), and the co-editor of two volumes. She serves on the boards of the National Endowment for Democracy and the National Committee on US-China Relations. She is a member of the Aspen Strategy Group and Council on Foreign Relations and serves as a book reviewer for Foreign Affairs.
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.
