Morning Wire China's Economic Challenges & Global Trade Impact | Saturday Extra
Sep 9, 2023
David Goldman, the deputy editor of Asia Times and a strategic economist, provides keen insights into China's economic landscape. He discusses the country's shift from an industrial base to a high-tech economy. Goldman addresses the challenges in China's real estate market and the effects of government policies on housing. He also examines the pipeline of Chinese exports, detailing how tariffs are reshaping trade routes through nations like Vietnam and Mexico. Additionally, he highlights China's evolving global trade dynamics and its implications for industrial sectors.
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China's Economic Transition
- China's economy is experiencing a slowdown, but it's still growing.
- This is due to a transition from an industry-based economy to a high-tech one.
China's Real Estate Troubles
- China's real estate market is declining due to government restrictions and changing demographics.
- This is a necessary but painful transition, as 70% of Chinese household assets are in property.
Political Influence on Real Estate
- China's real estate recovery depends on political decisions, not market forces.
- When the government signals it's time to buy, the market will likely respond positively due to pent-up demand.