China’s economy is going through a phase

Make Me Smart

Marketplace

News, Business

4.6 • 5.4K Ratings

🗓️ 20 September 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

For years, China has been forecast to overtake the U.S. as the world’s top economic superpower. But recently, the second-largest economy has been slowing under its zero-COVID policy. There’s also problems in its housing market, and its currency, the yuan, is falling.

On the show, Jennifer Pak, Marketplace’s China correspondent, makes us smart about China’s standing in the global economy and whether it’s still on track to topple the U.S. from the top spot.

In the News Fix: Supply chain problems aren’t over, and neither is the pandemic. Plus, Hurricane Fiona is still on a tear.

Then, are Make Me Smart listeners trolling the hosts? We’ll also hear about a potential solution to the beer shortage. Fizzless beer, anyone? We’re calling on all cicerones out there!

Here’s everything we talked about today:

“China’s Economy Won’t Overtake the U.S., Some Now Predict” from The Wall Street Journal
Marketplace’s Jennifer Pak is a must-follow on IG and Twitter.
“Ford Selloff Deepens After Warning of $1 Billion in Extra Costs” from Bloomberg
“Hurricane Fiona slams Dominican Republic, Puerto Rico; three dead” from Reuters
“What’s Driving Greg Abbott’s Escalating Migrant Busing Scheme?” from Texas Monthly
“Texas Sheriff Launches Investigation Into Migrant Flights to Martha’s Vineyard” from NBC Dallas-Fort Worth
“The United States of Cussing: Every U.S. State’s Favorite Swear Word” from WordTips

Join us tomorrow for Whaddya Wanna Know Wednesday. Submit your question about money, business or the economy at [email protected] or leave us a voice mail at 508-U-B-SMART.

Transcript

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0:00.0	The irony though like
0:02.0	Wow
0:05.0	It's almost as if this was designed for us. So joke. I
0:09.1	Almost feel like we're being trolled like that someone makes this just to like tease us
0:14.0	Well dear listener you will find out what we're talking about in about the I don't know 15 20 minutes
0:18.9	Yeah, hello. I'm Kimberly Adams. Welcome to make me smart where none of us is as smart as all of us
0:25.9	I'm Kai Rizzo Tuesday today a single topic on the podcast. It's China today. It's standing in the global economy
0:32.2	It's standing in global politics what it means for everybody and everything on this planet because honestly
0:38.8	That's what it affects that country does truly although I guess we'll let Jennifer figure that out. Sorry. I gave it away special guest
0:47.3	Second special guest. It's Jennifer Pack our China correspondent here at Marketplace who knows all of these things and is regularly making
0:55.1	Personally me smart about things in China and if you don't follow her on Instagram
0:59.6	You should be because she has all sorts of cool things and I'll just get right to it. Welcome Jennifer. Howdy
1:06.2	Howdy here in LA this week. Yes
1:08.9	I did the fun time of staring at Kai across the table. How's that going?
1:13.5	Exactly. You said that like it's a terrible thing. Give me a break. Oh, is it cuz is radio? I like it. Yeah, it's weird
1:19.5	Yeah, all right, so Jennifer
1:21.8	What is happening with China's economy right now?
1:27.1	Well, it's going through a really turbulent period basically and that's from its own doing and also for geopolitical reasons in a nutshell
1:36.5	Say more
1:37.8	Okay, so for geopolitical reasons of course, it's just basically what everybody else is experiencing you have the Ukraine war so prices are going up
1:45.7	A lot of uncertainty you have the US China trade war. Hello, still going on still going on
1:53.8	So I mean, I mean the the manufacturers exporters that we've been speaking to they would say okay
	...

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