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Zhu Rongji, Former Premier Who Pushed China to a Market Economy, Dies at 97
The New York Times • • nation
Key Points:
- Zhu Rongji, former Chinese premier known for steering China toward a market-based economy and leading its entry into the World Trade Organization, died at age 97 in Beijing.
- His death was announced by China’s Xinhua news agency without specifying a cause, noting he passed after unsuccessful medical treatment.
- Zhu played a key role under Communist Party leader Jiang Zemin in liberalizing China’s economy, driving rapid growth that lasted until the housing market downturn in 2021.
- His economic reforms also contributed to issues such as excessive debt and large trade surpluses, which later triggered trade conflicts with the United States during President Trump’s administration.
- After being purged during Mao Zedong’s ideological campaigns and spending years in obscurity, Zhu was politically rehabilitated post-1976 and rose to prominence under Deng Xiaoping, who appointed him to lead economic modernization efforts in the early 1990s.
