Explore the story of Huang, a business owner struggling with layoffs in the uncertain 2024 market, shedding light on the 'Ram Fan Nan' concept and the implications on private business owners and the ruling Communist Party's relationship. Delve into China's common prosperity agenda and its impact on inequality, economic growth, labor market, wages, household spending, and fertility rates.
After four decades of unparalleled gains in income and wealth, China’s 1.4 billion have been hit by a series of blows: a real estate collapse, a trade war with the US, and a crackdown on entrepreneurs have stalled the country’s prosperity engine.
On today’s episode of The Big Take Asia, host K. Oanh Ha dives into how China’s slowing economy is affecting people on the ground, and how Beijing is responding to that shift. Ha talks to Bloomberg correspondent Rebecca Choong Wilkins in Hong Kong and Bloomberg’s Chief Economist Tom Orlik.
Read more: ‘Are You Better Off?’ Asking Reagan’s Question in Xi’s China
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