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Economist Podcasts
The Intelligence: America gets a House speaker
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.
23:51
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Quick takeaways
- The election of Mike Johnson as Speaker in the US House of Representatives ends the deadlock and allows Congress to focus on debating and passing laws.
- Jeonju Bank's recent restructuring raises concerns about a potential debt crisis in China's banking sector, suggesting that other banks in the country may also have similar issues.
Deep dives
Political Paralysis in the US House of Representatives
After weeks of deadlock, Mike Johnson, a relatively low-profile representative from Louisiana, has been elected as the Speaker in the US House of Representatives. The Republican lawmakers' failure to come up with a candidate created a party at war with itself. The new Speaker will face the challenge of debating and passing laws, including funding the government and addressing President Biden's funding request for Ukraine and national security priorities.
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Discover
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