Zhu Rongji, the 'economic czar' who turned China into a global power, dies at 98

Zhu Rongji, the former Chinese premier regarded as the “economic czar” who anchored the country’s market reforms and its entry into the World Trade Organization, died Wednesday in Beijing at 98.

The architect of China’s miracle

Zhu led China’s economic policy in the 1990s and served as premier between 1998 and 2003. Under his watch, the country dismantled parts of the state system, restructured state enterprises, tamed inflation and prepared the ground for China’s WTO entry in 2001, the turning point of its rise as the world’s factory.

A blunt, hard-hitting style

Known for his frankness and firm hand, Zhu earned the respect of international markets and the nickname “one chop” for his determination to reform the state apparatus. His legacy is directly tied to the decades of double-digit growth that transformed China.

Why it matters

Zhu’s death closes the chapter of the generation of reformers who brought China out of economic isolation. His figure is key to understanding how the country went from a closed economy to the world’s second-largest economy.

The key figure

2003. The year Zhu left office, with a China unrecognizable: richer, more open and ready to compete in the global market.