China's great economic slowdown

GZERO World with Ian Bremmer

GZERO Media

International Relations, Government, Foreign Policy, Gzero World, News Commentary, Trump, News, Global Economy, Geopolitics, Politics, Ian Bremmer

4.6 • 684 Ratings

🗓️ 12 August 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

China is undoubtedly the biggest economic success story of our lifetime. Between 1978 and 2017, China averaged almost 10% year-over-year GDP growth. Decades of pro-investment policies transformed China from a closed, centrally-planned economy to an economic powerhouse that could rival the US. But in the last decade, Chinese President Xi Jinping has been moving the country back to its socialist roots, with major crackdowns in tech, real estate, and foreign investment. Xi’s vision is one of almost total state control, where businesses conform to the goals of the Chinese Communist Party, not the other way around. Can communist ideology mixed with capitalist ambition sustain growth into the future? Is Xi setting up China for another four decades of economic success? And what do China’s citizens make of its return to socialist roots? To discuss all that and more on the GZERO World podcast, Ian Bremmer sits down with Shaun Rein, Founder and Managing Director of the China Market Research Group, based in Shanghai.

Transcript

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0:00.0	The Chinese people and the Chinese government feel that Joe Biden and the Biden administration
0:05.2	are trying to contain China's growth, destabilize the party, and maybe push for regime change.
0:12.8	Hello and welcome to the GZero World podcast.
0:16.3	This is where you'll find extended versions of my interviews on public television.
0:20.4	I'm Ian Bremmer, and today
0:21.5	we are looking at China's post-COVID recovery and its economic path forward. China is the biggest
0:28.7	economic success story of our lifetimes. But how long can that last? Decades of infrastructure
0:34.8	investment have local governments drowning in debt. Almost three years of
0:39.5	zero COVID policies have sapped domestic spending and production, and youth unemployment is at record highs.
0:46.4	At the same time, President Xi Jinping is moving China away from the pro-investment policies
0:51.5	that fueled the last 40 years of almost 10% annual GDP growth
0:57.0	in favor of ideological and national security priorities.
1:01.0	So is President Xi setting up China for another four decades of runaway economic success?
1:07.0	Or does what goes up have to eventually come down?
1:10.0	And what do China's citizens make of its return to socialist roots?
1:15.1	Joining me today for the perspective from inside China is Sean Ryan,
1:19.6	founder and managing director of the China Market Research Group.
1:23.5	Let's get to it.
1:36.5	The GZero World podcast is brought to you by our lead sponsor, Prologis.
1:41.8	Prologis helps businesses across the globe scale their supply chains with an expansive portfolio of logistics real estate and the only end-to-end
1:45.6	solutions platform addressing the critical initiatives of global logistics today.
1:50.4	Learn more at prologist.com.
	...

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