Hudson Institute China Center Director Miles Yu said the economy in China is not driven by normal market factors, but is based on "what the Chinese Communist Party wants."

"Business is still terrible in China, that is the conclusion," Yu said on a recent edition of the China Insider Podcast. “Fundamentally that’s because China is a planned economy, not a market economy."

“What really matters in China is not market forces of supply and demand, but what the Chinese Communist Party wants," Yu said. "What the CCP wants is basically two things: one is, they want to create a dominance of the state owned enterprises. And secondly, they want to have a global economic and technological dominance."

The April 3 episode of the podcast focused on China President Xi Jinping's meeting with western business leaders, as well as recent cyber attack attempts from China on the U.S.

China Insider podcast is hosted by Miles Yu, a senior fellow and the director of the China Center. The weekly show is produced by the Hudson Institute's China Center and addresses issues involving China as well as providing commentary on recent news.

Yu is a professor at the United States Naval Academy in Annapolis, teaching East Asia military and naval history. He specializes in Chinese military culture, historical relations between the U.S. and China, and U.S. policy on China. He previously served as the China policy adviser under Secretary of State Mike Pompeo.