Top Traders Unplugged cover image

IL16: False Narratives - A Path to a World of Conflict ft. Stephen Roach

Top Traders Unplugged

00:00

The Importance of Spendable Labor Income in China

The Chinese generate a lot of spendable labor income by creating jobs in a embryonic but growing services sector. They raise real wages a lot by encouraging migration from the countryside to the cities where wage rates are more than double what they are in rural areas. But the labor income is not spent because of this deep-rooted sense of financial insecurity that is traceable to the lack of a well-developed, well-funded social safety net retirement and health care. And that's particularly problematic for an aging society.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app