Stephen MacDonald
BBC China correspondent reporting on youth consumption, employment and economic pressures in Beijing for the China-focused segment of the episode.
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Nov 24, 2025 • 6min
Can China spur consumer spending?
Stephen MacDonald, a BBC correspondent based in Beijing, sheds light on China's economic landscape, focusing on its surprisingly low consumer spending. He discusses the alarming youth unemployment rates and stagnant wage growth that are impacting domestic consumption. Despite government efforts to stimulate spending, challenges persist. The conversation also touches on broader themes, including inflation expectations and shifting consumer behavior as people increasingly seek discounts during the holiday shopping season.
Nov 12, 2025 • 26min
Tariff relief for US consumers
Susan Schmidt, a portfolio manager with insights on U.S. household finances, discusses the growing stress from rising consumer debts. Nobel laureate Joseph Stiglitz dives into the factors fueling global inequality, advocating for fairer taxation. Stephen MacDonald highlights the economic struggles of Chinese youth, emphasizing their reduced spending habits. Brendan Doherty shares how tariff impacts on coffee prices affect his café business. Meanwhile, Mahavi Arora reveals India’s food price dynamics and the positive effects of recent tax cuts on disinflation.
