China's crisis is more comparable to the long, bluwing, slow dowging crisis in japan since the 19 nineties. The government has been scratching its head trying to find a way out of this over-the-top production crisis. But china won't get close to this 19 97 asian financial quises. It will be more like japan. That is, the debth continue to accumulate and han the economy become less energetic, less momentum of growth.
The second of our two-part interview with sociologist Ho-fung Hung on Chinese political and economic history. This episode covers the 2008 financial crisis, how China’s response deepened global and domestic economic imbalances and (alongside the US) heightened geopolitical conflict, the current situation—including Russia’s invasion—and a lot more. Listen to part one first if you haven't already.
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