China Insider
#36 | The CCP's Faltering Economy, US and Japan Missile Development, and the US-China Spy War
Aug 15, 2023
China Center Program Manager Shane Leary joins Miles Yu to discuss the root causes of China's faltering economy. They then talk about a new agreement between Japan and the United States to develop hypersonic missile intercept systems. Finally, Miles examines the state of espionage practices between the US and China, with attention to China's spy networks abroad, and the CCP's latest efforts to revitalize the informant system of the cultural revolution at home.
18:06
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Quick takeaways
- The Chinese economy is facing multiple challenges including a declining economy, deflation, and a demographic crisis caused by the one-child policy.
- The CCP's command economy is proving ineffective in improving China's economy, and a transition to a market-driven system is crucial for revival.
Deep dives
Struggling Chinese Economy and Demographic Challenges
The Chinese economy has suffered greatly over the past year, with declining trade, foreign investment, and a struggling housing market. The economy is also facing deflation, leading to an increasing debt burden. Moreover, China is grappling with a devastating demographic challenge due to the one-child policy. The population aged 65 and above has risen from 5% in 1990 to 14% today and is predicted to reach 30% by 2050. China could lose 7 million working-age adults per year by the next decade, while its population is expected to shrink by half by the 22nd century.
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