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On The Margin
China's Old Economic Model Is Dying | Leland Miller
Oct 4, 2023
Leland Miller, CEO of China Beige Book, discusses the death of China's old economic model. They debunk the misconception of China's imminent collapse, explore China's economic growth expectations vs reality, analyze China's inflation data, discuss China's economic model and its impact on the global economy, explore the possibility of decoupling the economic activity between the United States and China, and discuss trade tariffs on steel imports from China.
46:59
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Quick takeaways
- China's economy is not collapsing but experiencing a modest recovery, with a focus on consumption and manufacturing sectors and controlled deflation of the property bubble.
- Chinese President Xi Jinping is prioritizing a shift towards slower, healthier growth, addressing wealth inequality, and strengthening China's position on the global stage.
Deep dives
China's economy is not on the verge of collapse
Contrary to mainstream media narratives, China's economy is not on the brink of collapse. Despite concerns and rumors of a hard landing, experts argue that China is not experiencing a collapse but rather a recovery, albeit a modest one. The focus should be on the country's consumption story and manufacturing sector, as well as the government's efforts to engineer a controlled deflation of the property bubble. While the economy may not be performing exceptionally well, it is not collapsing as feared.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode