Yasheng Huang is the Epoch Foundation Professor of Global Economics and Management at the MIT Sloan School of Management. His new book is The Rise and Fall of the EAST: How Exams, Autocracy, Stability, and Technology Brought China Success, and Why They Might Lead to Its Decline. Steve and Yasheng discuss: 0:00 Introduction1:11 From Beijing to Harvard in the 1980s15:29 Civil service exams and Huang's new book, "The Rise and Fall of the EAST"37:14 Two goals: Developing human capital and indoctrination48:33 Impact of the exam system57:04 China's innovation peak and decline1:12:23 Collaboration and relationship with the West1:21:31 How will the U.S.-China relationship evolve? Yasheng Huang at MIThttps://mitsloan.mit.edu/faculty/directory/yasheng-huang Web site:http://www.yashenghuang.com/ Music used with permission from Blade Runner Blues Livestream improvisation by State Azure. -- Steve Hsu is Professor of Theoretical Physics and of Computational Mathematics, Science, and Engineering at Michigan State University. Previously, he was Senior Vice President for Research and Innovation at MSU and Director of the Institute of Theoretical Science at the University of Oregon. Hsu is a startup founder (Superfocus.ai, SafeWeb, Genomic Prediction, Othram) and advisor to venture capital and other investment firms. He was educated at Caltech and Berkeley, was a Harvard Junior Fellow, and has held faculty positions at Yale, the University of Oregon, and MSU.