Economist Podcasts
The Peking order: Can China’s army surpass the US?
Nov 14, 2024
Avantika Chilkoti, a global business correspondent for The Economist, discusses the decline in luxury e-commerce, revealing why shoppers are favoring tactile experiences over online purchases. She highlights challenges faced by platforms like Farfetch. Meanwhile, Anne Rowe shares the poignant story of Balthazar Uzca, Ecuador's last ice miner, detailing his battle against climate change and modernity. Their conversation intertwines contemporary economic trends with historical narratives, showcasing how personal stories reflect broader global shifts.
24:09
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Quick takeaways
- China's rapid military modernization includes advancements in naval and air power, yet it faces significant integration and operational challenges.
- The decline in luxury e-commerce stems from economic shifts and increased competition, pushing consumers back to traditional retail experiences.
Deep dives
The Evolution of China's Military Capabilities
China's military modernization efforts are rapidly advancing, particularly within its navy and air power. The Chinese navy, once viewed as only possessing sheer numbers, is now producing sophisticated warships that rival American designs, as evidenced by the shrinking ratio of vertical launch system cells. In air power, China's development of advanced jet engines and capable missiles like the PL-15 highlights a significant progress, closing the gap with U.S. military technology. Moreover, China's hypersonic missile capabilities have already been deployed, placing it ahead of the U.S. in this critical area, indicating a shift in military balance in the Pacific region.
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