"Econ 102" with Noah Smith and Erik Torenberg cover image

Preparing for a Second China Shock and Bad Economists with Brad DeLong

"Econ 102" with Noah Smith and Erik Torenberg

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The China Shock: Economic Impacts and Political Ramifications

This chapter explores the effects of a second 'China shock' on the U.S. economy, comparing it to the first shock in the early 2000s, which heavily impacted blue-collar workers. It critiques the U.S. government's economic policies during these times, particularly under the George W. Bush administration, and their contribution to significant issues like the housing market collapse. Furthermore, the chapter discusses international trade dynamics, exchange rates, and the importance of responsive fiscal policies to better address economic upheavals.

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