HEADLINE: China's Economic Slowdown, Deflation, and the Spectre of Japanification GUEST NAME: Andrew Collier SUMMARY: Andrew Collier discusses China's economic woes, characterized by persistent deflation, with the CPI down 0.3% (6 out of 9 months in the r

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.5 • 2.8K Ratings

🗓️ 16 October 2025

⏱️ 9 minutes

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Summary

HEADLINE: China's Economic Slowdown, Deflation, and the Spectre of Japanification GUEST NAME: Andrew Collier SUMMARY: Andrew Collier discusses China's economic woes, characterized by persistent deflation, with the CPI down 0.3% (6 out of 9 months in the red) and the PPI down for 36 straight months. This environment raises concerns about "Japanification"—a multi-decade slowdown after a property crash. Major structural changes to stimulate consumer consumption are unlikely at the upcoming Communist Party plenum, as the system favors state investment. The property market collapse means foreign investment is leaving, and Collier suggests the economy may not bottom until 2027 or 2028.

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0:00.0	Building a coffee business?
0:01.9	Serving the best Americano in town is up to you.
0:04.1	But winning back time and growing your business, leave that to sum up.
0:07.1	Take orders and payments anywhere with the new SumUp terminal.
0:09.9	Turn occasional customers into regulars with a free loyalty program.
0:13.4	And with the SumUp point of sale system, you'll always know when you're running low on your best selling blends.
0:17.9	Visit sumup.co.uk to learn more.
0:23.8	This is CBSI on the world. I'm John Batson. Gordon Chang at Gordon G. Chang, my colleague and
0:29.4	co-host, and we're wonderful to welcome Andrew Collier, who is the managing director of Orient
0:36.6	Capital Research. Most importantly, he's the author of a book
0:39.5	Precian years ago now, right in front of us. China's technology war why Beijing took down
0:46.4	its tech giants and everything else we can see. Gordon has some numbers for us, Andy, for us to
0:52.2	ask you to interpret them, but boy, oh boy, Gordon, what have you got?
0:57.2	Just a few hours ago, Beijing released its price data for September.
1:01.7	The consumer price index was down 0.3%.
1:05.3	That is six out of nine months now that that number has been in the red.
1:10.4	The producer price index,
1:11.9	which measures factory gain prices, was down 2.3%. That's the 36th straight month of declines
1:19.6	in the PPI. This is deflation. Why Beijing took down its tech giants, why Beijing took
1:25.4	down the country. Andy, what is Japanification? What
1:28.1	does it mean? Good day to you. Well, basically, Japanification talks about the sort of multi-decade
1:34.0	slowdown in Japan's economy after its property market crash back in the 90s. And the concern is
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