A Primer on China's Current Economic Turmoil

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 18 August 2023

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

China has posted some troubling economic data of late, leading many macro commentators to call attention to the concerning developments. In today's episode, NLW provides a primer on the past few years of wobbles, issues in the real estate sector, and the CCP's lack of good options. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.4	What's going on, guys? It is Thursday, August 17th, and today we are doing a great big
0:24.0	what the heck is going on with China episode. Before we get into that, however, if you are
0:29.4	enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to
0:33.3	dive deeper into the conversation, come join us on the Breakers Discord. You can find a link at the show
0:37.6	notes or go to bit.ly slash breakdown pod. Hello, friends, we are rumbling on towards the end of the week.
0:43.6	And speaking of rumblings, if you have been watching the macro Twitter sphere closely, there have been
0:48.9	growing rumblings about China. You see it pop up a little bit in mainstream media and on YouTube's and certainly now
0:55.9	happening on podcasts. And then yesterday, Preston Pish tweeted, anyone have a really good and recent
1:01.7	article or podcast on what's happening with the economy in China right now? Well, over here at the
1:06.7	breakdown, that really cinched it that we were going to dig into this. And before we do, the usual
1:11.0	caveats. One, I am not a China expert, just like basically I'm not an expert on anything we talk
1:16.6	about here. But what we try to do well over here at the breakdown is aggregate sources to help
1:21.1	you better understand what's happening at least a little bit better. And number two, to the extent
1:25.6	it comes up, apologies in advance for pronunciations,
1:28.9	or perhaps I should say mispronunciations. With that, let's try to get a sense of what's happening
1:33.4	and why it matters. On Tuesday, the People's Bank of China cut rates on one-year loans by 15 basis
1:38.9	points to 2.5%. This is the largest cut since 2020 and was an emergency policy adjustment following the release of some truly dismal economic data.
1:48.5	July data showed weak consumer spending growth, sliding investment, and rising unemployment.
1:53.8	Youth unemployment for people between the ages of 16 and 24 hit 21% in June.
1:58.9	I know you guys can do the math, but to put that differently, that means
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.