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Business Daily
The Great China Slowdown
Jan 25, 2019
Economist Linda Yueh and Shaun Rein discuss the implications of China's economic slowdown on the global economy. They touch on declining consumer spending trends in Shanghai, the trade war with the US, and the risks associated with high debt levels in China. The podcast explores the blame game dynamics between the US and China, the impact of tariffs on Chinese products, and the potential ramifications of China's economic downturn on the global economy.
18:36
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Quick takeaways
- Chinese consumers are cutting back on luxury items and travel, reflecting an overall trend of consumption moderation during economic slowdown.
- China's economic challenges, including job market declines and reduced consumer spending, are raising concerns globally about potential recession and market impacts.
Deep dives
Impact of Chinese Slowdown on Consumption
As China's economy faces a slowdown, both street-level vendors and high-net-worth individuals are feeling the pinch. A food stall owner in Shanghai mentioned declining sales and struggling businesses, while a real estate agent noted decreased interest in luxury items and reduced spending on travel among high-net worth clients. These personal testimonies reflect a broader trend of consumption moderation amidst economic uncertainties.
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Discover
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