Economist Podcasts The Intelligence: America gets a House speaker
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Oct 26, 2023 
Adam O'Neill, Washington correspondent for The Economist, shares insights on the recent election of House Speaker Mike Johnson and the implications for U.S. legislation amid political turbulence. Don Wineland, the publication's China business and finance editor, discusses concerns over hidden bad loans in China's banking sector, particularly at Jinjo Bank, which faces a staggering 50% non-performing loans. The conversation also touches on the trend of increasingly long films and how they reflect changing audience engagement.
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House Speaker Impasse
- The House of Representatives was in a state of paralysis due to the inability of Republicans to elect a Speaker.
- After weeks of internal fighting and multiple failed candidates, Mike Johnson was finally elected.
Failed Speaker Candidates
- The House went through multiple speaker candidates, including Kevin McCarthy, Steve Scalise, and Jim Jordan, before settling on Mike Johnson.
- Each candidate failed to garner enough votes, highlighting the deep divisions within the Republican Party.
Mike Johnson's Strengths
- Mike Johnson's lack of strong leadership roles and limited baggage might be advantageous in uniting the party.
- His ability to work with Democrats will be crucial for passing legislation and avoiding further gridlock.