Big Take Asia
What Does China’s Economic Slowdown Mean For the Communist Party?
May 21, 2024
Exploring China's economic slowdown and its impact on citizens, entrepreneurs, and the Communist Party. Discussion on real estate collapse, trade war with US, and crackdown on entrepreneurs. How Beijing is responding to the economic shift with common prosperity agenda and surveillance technology. Analysis on new economic policies, growth drivers, and the relationship between economic growth and political freedom in China.
20:05
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Quick takeaways
- China's economic slowdown is affecting individuals on the ground, leading to job cuts, financial strain, and uncertain market conditions for private business owners.
- President Xi Jinping is focused on addressing economic inequality and reshaping the social contract by implementing policies for economic stability, wealth distribution, and growth diversification.
Deep dives
Challenges in China's Economy: A Commodities Trader's Struggle
Mr. Huang, a commodities trader in his 40s, faced challenges due to a slowdown in demand from factories, impacting his business. Despite past success, he had to lay off employees and rely on his wife's income, experiencing financial strain. Many private business owners in China are caught in a cycle of debt due to uncertain market conditions, affecting their ability to expand or secure their financial stability.
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