During Xi Jinping’s 13-year rule in China, power is highly centralized, and the economic structure faces numerous challenges. What is the logic of the evolution of this system, and where is it heading? How should we understand the complex relationship between totalitarian politics and market economy? How can we explain the previous success of the Chinese economy and current predicaments? Are there any viable alternatives or revival strategies to revitalize the Chinese economy? Commissioned by the China Journal of Democracy, Weifeng Zhong, affliated scholar from George Mason University’s Mercatus Center, and Jude Blanchette, Director of the RAND China Research Center, engaged in the following dialogue. Their conversation provides in-depth insights from international think tank to understand the “Chinese model” of the Xi Jinping era.