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Economics Explained
China’s Crumbling Economic Story
Nov 20, 2023
Explore the transformation of Shenzhen into an economic powerhouse and China's rapid growth. Discuss concerns about economic collapse and the disparity between China's growth rate and Western economies. Examine the impact of assuming strong career growth on personal finances and China's provincial debt challenges. Discover the consequences of nominal wage increases, inflation, and deflation on China's economy.
17:15
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Quick takeaways
- China's rapid growth has lifted millions from poverty but has led to short-term economic strategies and reckless investments.
- China's debt situation, which includes provincial debt, state-owned companies' debt, and household debt, may surpass 360% of GDP, leading to potential economic instability.
Deep dives
China's economic growth and expectations
China has experienced significant economic growth over the past decades, pulling millions out of poverty and making consumer goods more affordable. However, the expectation of continuous high growth has led to short-term economic strategies and reckless investments.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode