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ChinaTalk
Peak China with Noah Smith and Matt Klein
Sep 22, 2023
Noah Smith and Matt Klein discuss the Chinese economy, the parallels with Japan's peak, China's progress in semis and EVs, Trump Administration impact, and Noah's substack on China. They also explore shifting China to a consumer demand-driven economy and the challenges China may face in the future. Additionally, they discuss the success of Chinese electric vehicles and semiconductors and their writing processes and motivations.
01:09:43
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Quick takeaways
- China's economy is experiencing a slowdown due to limited development in the service sector and dominance of government-controlled industries, hindering consumer spending and income distribution.
- China's relative economic growth rate has peaked, with demographic challenges and low productivity growth posing hurdles to sustained expansion, raising concerns about future industrial competitiveness and global economic weight.
Deep dives
Chinese Economy: Slowing Growth and Pandemic Impact
The Chinese economy has been gradually slowing down over the past decade, with growth rates reaching a peak in 2010 and subsequently declining to around six to seven percent. The pandemic further disrupted the economy, with lockdowns and restrictions initially successful but eventually leading to mass protests. Despite the hope for a rebound and removal of restrictions, the economy has not seen the expected growth, with indicators like retail sales and industrial production performing poorly.
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Discover
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