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Slate Money
China Needs a Stimulus Bazooka
Oct 19, 2024
Anna Szymanski, an editor at Reuters specializing in business and finance, joins Josh Levine, host of Slate's Slow Burn, to dive into China's economic woes. They dissect new stimulus measures and the ramifications of sluggish growth and youth unemployment. The conversation shifts to a significant $7 billion estate tax and corporate governance issues at Boar's Head. Levine also reveals insights from the upcoming season of Slow Burn, exploring how Fox News transformed American politics and contributed to media polarization.
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Quick takeaways
- China's economy is in crisis with slow growth and high unemployment, prompting calls for more aggressive stimulus measures to avert stagnation.
- The U.S. must reconsider its adversarial stance towards China, recognizing that a stable Chinese economy is beneficial for global economic health.
Deep dives
Challenges in the Chinese Economy
The Chinese economy is currently experiencing significant challenges, with growth at its slowest pace in 18 months and deflationary pressures becoming apparent. Foreign investment has decreased, and youth unemployment is alarmingly high, compounded by a substantial property crisis. The Chinese government has introduced small measures aimed at stimulating the economy, but analysts argue that these efforts are too limited to effectively address the underlying issues. Without more aggressive and comprehensive policies, the potential stagnation of the Chinese economy poses risks not just for China but for the global economy as a whole.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode