The Intelligence from The Economist
The Peking order: Can China’s army surpass the US?
Nov 14, 2024
Avantika Chilkoti, a global business correspondent, discusses the downturn in luxury e-commerce as consumer habits shift away from online spending post-pandemic. She highlights how brands are struggling to engage shoppers and the strategic moves being made to adapt. Meanwhile, Anne Rowe shares the poignant story of Balthazar Ushka, Ecuador's last ice harvester, detailing his connection to Chimborazo and the impact of climate change on his traditional livelihood. Together, they explore themes of commerce evolution and environmental challenges.
24:09
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Quick takeaways
- China's military modernization includes advancements in naval and aerial forces, but integration and logistical challenges remain significant issues.
- The luxury e-commerce sector is declining due to inflation and consumer preference changes, prompting brands to adapt their strategies for survival.
Deep dives
China's Military Advancements
China is rapidly modernizing its military capabilities, significantly enhancing its naval and aerial forces. The country has developed advanced warships that are now on par with some American counterparts, particularly in terms of vertical launch system cells, which allow for greater missile capacity. In the air force realm, China has made massive strides in producing jet engines and air-to-air missiles, with its PL-15 and PL-17 missiles being competitive against NATO standards. Additionally, China's lead in hypersonic missile technology, with operational systems already deployed, highlights its commitment to closing the technological gap between itself and the United States.
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