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Armstrong & Getty On Demand

A&G Replay, December 20th, Hour 2

Armstrong & Getty On Demand

iHeartPodcasts

Daily News, News, Society & Culture

4.63.5K Ratings

🗓️ 20 December 2021

⏱️ 37 minutes

🧾️ Download transcript

Summary

In this hour, China passing the US, Disney Jobs, Blind Dating Shows, and the Homeless Industrial Complex.

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Transcript

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0:00.0

I'm not a

0:10.0

From the Abraham Lincoln radio studio the George Washington broadcast center jack arm strong

0:15.9

I can change a diaper with one hand

0:17.9

And show daddy. I love you. I'm strong and

0:22.8

I know this is a local. So the hustle. Yeah, it's up. And the key is

0:30.8

I'm strong and getting

0:36.5

So I was reading about this the other day and I thought you might find it interesting everybody's predicting the China will pass the US is the biggest economy on earth by

0:43.4

2030 or whatever you know different people throught different numbers, but

0:46.4

This piece written by who's this written by it's really good. I'll tell you later, but the nightmare scenario for she is that China could follow the same trajectory as Japan.

0:54.4

Also touted as a potential challenger to the US before it crashed three decades ago.

0:58.4

Combination of reform failure, international isolation, financial crisis could halt China before it reaches the top.

1:06.4

It's also worth mentioning that China's official GDP data is almost certainly exaggerated.

1:12.4

And so they have a bigger gap than it appears. And then they go into some technical stuff about the three factors that determine an economy's growth rate.

1:20.4

That's a workforce, capital stock, everything from factories to transport infrastructure to communications networks.

1:28.4

And finally, there's productivity or how effectively those first two can be combined. And in each of those areas China faces an uncertain future at best like their workforce.

1:38.4

They have a demographic nightmare going on thanks to their long time one child policy. Nobody's having kids.

1:46.4

And if fertility stays low, it's projected to shrink by more than 260 million people in the next 30 years.

1:54.4

And they mentioned that China is trying to they've raised the limits and encouraging people and they quote a young Chinese worker who says,

2:00.4

the reason I haven't bought three rolls, Royces is not because the government wouldn't let me. In other words, saying children are expensive and challenging.

2:10.4

And I'm just they don't have a culture of having big families. In fact, they hardly have a culture of having families at all. And it takes a long time to turn that sort of thing.

2:20.4

Then they mentioned the outlook for capital spending isn't quite so bleak, although they've overbuilt and there are ghost towns full of empty buildings six lane highways. So it's not clear if they need more.

2:30.4

Anytime soon. And then they get to the key part. All of China's rise over the last 40 years or so has been with the full enthusiastic cooperation of the world economic community, particularly the Western democracies.

...

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