Sinica Podcast Adam Tooze Climbs the China Learning Curve
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Jul 16, 2025 
Adam Tooze, an economic historian at Columbia University, shares his insights following a month in China. He discusses the post-COVID economic landscape, highlighting the challenges faced by the real estate market and shifting consumer behaviors. Tooze contrasts China's renewable energy advancements with U.S. policies, exploring the geopolitical ramifications. He reflects on the complexities of understanding China as an outsider and the importance of humility in appreciating its cultural nuances. The dialogue is enlightening and filled with personal anecdotes.
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China’s Economic Slowdown
- China's 2022 COVID economic shock drastically lowered consumer confidence and halted growth.
- The real estate market deflation disrupts urbanization and delays economic recovery beyond 2025.
Generational Impact of COVID Slowdown
- Younger generations bear the deepest COVID-related economic scars due to entering a slower growing labor market.
- Growth slowdown leads to stabilized but lowered expectations compared to previous generations.
Public Services Affect Consumption Data
- Chinese consumption appears lower when ignoring high-quality public services that reduce private expenditures.
- Policy efforts focus on increasing consumption of human-related services to improve quality of life.
