On The Market
196: China Falters, Israel’s Oil Danger, and Russia’s Assets Used Against Them w/Joe Brusuelas
Mar 7, 2024
China's economy is in trouble with massive overspending and real estate crash. Renowned economist Joe Brusuelas discusses global economic implications. Topics include China's debt trap, impact on US housing market, global crises, and US economic trends pointing to new era of productivity.
38:12
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Quick takeaways
- China's debt crisis poses risks for global economics due to excessive debt levels and the need for a lengthy deleveraging process.
- The US economic outlook shows promising growth potential with increased productivity and restored price stability, benefiting living standards and economic performance.
Deep dives
China's Economic Challenges and Transition
China is facing economic challenges due to an enormous debt overhang in sectors like banking, housing, and commercial real estate. Their previous state-directed investment model is no longer sustainable, leading to slowed economic growth. The country aims to deleverage over the next decade, transitioning from the old development approach to focus on manufacturing. This shift may impact global GDP distribution and potentially increase tensions in Asia.
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