Qian Liu on Gender Equality and Bridging Divides
Impact STORY
Qian Liu is Founder and CEO of Wusawa Advisory, where she helps clients navigate an increasingly complex geopolitical and business environment. As an economist, author, and prominent advocate for gender equality, Qian brings a rare combination of rigorous data and deep cross-cultural fluency to some of the world’s most pressing challenges.
She is the author of Gender Economics (in Mandarin), a Young Global Leader at the World Economic Forum, and a member of the UN Women Global 100 Women Leaders Network — selected as one of only three Chinese representatives, and the only Chinese member of its core working group. Qian is a Fellow of the 2024 class of the Aspen Institute’s China Fellowship Program and a member of the Aspen Global Leadership Network.
We spoke with Qian about how she defines gender equality, why she sees investing in women as the highest-return investment available, and what it will take to build genuine trust in our increasingly divided global context.
Answers have been edited for clarity and length.
I think there are two main dimensions to this. The first is the definition of gender equality itself. There are real divisions within women’s movements about what gender equality means. As an economist, I believe gender equality means equal opportunity — not equal outcomes. The idea is that no one should be prevented from doing something simply because of their gender. Women shouldn’t be forced to stay home. Men shouldn’t be told they can’t wear pink or play with Barbies. The goal is the ultimate freedom for every individual to choose what is right and good for them. We’re not prescribing what the results should look like — we’re ensuring that the opportunities to achieve them are equally available.
The second challenge is the growing tension between men and women themselves. Increasingly, many men feel that every step forward for women is something they’re losing. Gender equality is seen as a zero-sum game, and that’s a fundamental problem. When I work on gender issues, I don’t come at it from the traditional angle of “this is the right thing to do.” I come at it from the angle of “this is the smart thing to do.” I use data, historical references, and international comparisons to show why empowering women is good for women, for men, for children, and for economies and societies overall. The biggest challenge is helping everyone — men included — feel that they are part of this conversation, not opposed to it.
I love data, so let me give you the layers of it.
Let’s use education as an example. Over the past 60 years, if you had invested a dollar in U.S. Treasury bonds, your annual return would have been around 2.4%. But the annual return on investment in an additional year of schooling — across both men and women — is 8.8%. So already, investing in education dramatically outperforms traditional financial investment.
Now go one level deeper: within education, the return on investing in women’s schooling is higher than for men — roughly 10% versus 8% annually. And then there’s a third level that I find very powerful too. When a wife’s level of education increases by one year, studies in the U.S. show that her husband’s income is associated with an 18% increase annually. We also see improvements in children’s health outcomes, educational achievement, and family wellbeing overall, as well as broader GDP growth and social stability.
So the argument isn’t just moral — it’s economic. Investment in education outperforms financial investment. Investment in women’s education outperforms investment in men’s education. And investment in women’s education benefits not just women, but men, children, and society as a whole. I say it simply: investing in women’s education is the best investment available — low risk, highest return.
Investment in women’s education benefits not just women, but men, children, and society as a whole.
I’m part of the first generation in China to grow up under the One-Child Policy. In an unexpected way, that policy created an enormous window of opportunity: when families could only have one child, there was less room to discriminate. Girls had more equal access to education than they might have had otherwise, and that — combined with China’s rapid economic growth — gave my generation of women real chances.
But I also grew up in Qingdao, in Shandong Province, where Confucius was born. It’s a very traditional part of China. In some places, women still aren’t allowed at the dinner table — that space is reserved for men. I was educated in Sweden, one of the most gender-equal countries in the world, and at UC Berkeley, one of the most liberal academic environments. So I carry both of these realities inside me. I saw what equality could look like in practice.
And then I have a daughter. That changes everything. I want to create a more gender-equal world for her and her generation.
As an economist, I only have one real tool — economics. So I’ve spent years writing on gender in top academic and media outlets, covering everything from education and labor markets to fertility, marriage, and divorce. When Harvard professor Claudia Goldin won the Nobel Prize in economics for her work on women in the labor market, it was a historic first for the field. By then, I had already written nearly 150,000 words on gender economics. The book almost wrote itself.
We are at a genuinely historic moment. I’m just trying to be part of it.
The world has never needed more collaboration than it does today — on AI, on climate, on space, on healthcare, on gender equality and many more. These challenges require the two largest economies to work together. But instead, we’re closing more doors than ever.
I have three hopes.
The first is the business community. As an economist, I believe in incentives. Businesses are incentivized to drive revenue and growth. They need access to markets, to talent, to technology. I’m hoping the business community on both sides can nudge governments to maintain some sanity and find ways to keep working together.
My second hope is in the younger generation and in social-level trust building. Many of the people who have the strongest assumptions about China have never been here. I receive global CEOs and heads of state who come to Beijing and are genuinely surprised to find that the air is clean, the food is extraordinary, and the people are warm. That’s not a policy argument — it’s a human one. Come. See for yourself.
My third hope is in the rest of the world — particularly the Global South. The U.S. and China are like two people in a difficult relationship who need a third voice. In physics, the triangle is the most stable shape. The Global South, rather than being forced to choose sides, has an opportunity to come together and say: enough. Find a way to work with each other.
I’m still in the middle of it — three seminars in, one more to go — but it’s already been profound. What makes it special is that everyone in the room has achieved something remarkable in their own field. And yet when we come together, none of that matters in the same way. We see each other as humans first. We share our struggles as readily as our accomplishments. There’s a quality of vulnerability there that I don’t often find elsewhere.
I had a moment at the end of one session that I haven’t been able to stop thinking about. I was still searching for the right words to say at our closing, and one of my classmates turned to me and said simply, “Qian, we’ve got you.” That’s community. At the end of the day, we’re all humans together on this planet. We’re not enemies. There is no zero-sum game. If we can really hold onto that — across geographies, across ideologies, across genders, across all the lines that divide us — I think we can find our way forward.
At the end of the day, we’re all humans together on this planet. We’re not enemies. There is no zero-sum game.
I am passionate about two things, and I will not let go of either. One is being a bridge between China and the rest of the world. The other is advancing gender equality. Those are the two places where I believe I have something genuine to contribute — where my background, my training, and my lived experience all converge.
The exact form that takes is still being worked out. It could be through my advisory firm, Wusawa. It could be through writing — I’m considering translating my gender economics book into English, because the research draws on international data and should be accessible to women around the world. I’ve also been thinking about a book on China written for a global audience — most books on China written in English are written by outsiders looking in. I want to offer a different kind of window.
I’m still at my own inflection point, in some ways. But I am extremely grateful that the Fellowship is giving me exactly the space to figure that out.
About the Aspen Global Leadership Network
The Aspen Global Leadership Network (AGLN) is a dynamic, worldwide community of nearly 4,000 entrepreneurial leaders from over 60 countries. Spanning business, government, and the nonprofit sector, these leaders share a commitment to enlightened leadership and the drive to tackle the most pressing challenges of our times. Through transformative Fellowship programs and gatherings like the Resnick Aspen Action Forum, AGLN Fellows have the unique opportunity to connect, collaborate, and challenge each other to grow and commit to a lifelong journey of impact.
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