HOUSING COLLAPSES, IRON ORE PLUMMETS, MANUFACTURING SHRINKS, CONSUMERISM NOWHERE: 1/4: Wild Ride: A short history of the opening and closing of the Chinese economy by Anne Stevenson-Yang (Author)
The John Batchelor Show
John Batchelor
4.6 • 2.7K Ratings
🗓️ 25 August 2024
⏱️ 11 minutes
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Summary
by Anne Stevenson-Yang (Author)
https://www.amazon.com/Wild-Ride-history-opening-closing/dp/173942431X
https://www.sharecafe.com.au/2024/08/19/iron-ore-prices-plummet-amid-chinas-property-crisis/
How did China grow from an impoverished country to become the second largest economy in the world in just over four decades? And how did this economic miracle come to an end, as seems the case today? To understand the story of China's rapid rise and equally rapid fall, author Anne Stevenson-Yang takes us back to the beginning, when Deng Xiaoping took over and opened its moribund economy to Western money and know-how. Stevenson-Yang, who lived and worked in China for a quarter of a century, traces each decade of China's tumultuous development, from the roaring 1980s to today's malaise. In her first-hand account, Wild Ride, Stevenson-Yang concludes that China is returning to the poverty and isolation of the Mao era. What happened to the promise of the political change that would come with the opening of the economy? And the institutional reforms of the last four decades? The author says all that change was all an illusion. Communist China, being interested only in survival, played along and the West fell for it. With the rise of Xi Jinping, that capitalist experiment is over. 'It took me years to understand that I was an unwitting player in an elaborate dramatic confection.
1936 MOSCOW
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| 0:54.0 | This is CBS Eye on the World. Here's John Bachelor. |
| 1:00.0 | This is CBS I on the world. I'm John Bachelor. It is 1994. She Ann, a city in China, the People's Republic of China, undergoing a |
| 1:05.8 | transformation from a poverty-damaged culture, 5,000-year-old culture, poverty |
| 1:11.6 | damaged by geopolitics and the insistence on the Chinese Communist |
| 1:16.1 | Party to brutalize the population in the 50s and 60s and 70s. |
| 1:20.8 | And here we are 1994 and the author Ann Stevenson Yang has returned to China. She was |
| 1:28.7 | there once before as an editorialist returned to China representing a business council and she's invited to |
| 1:35.3 | Sheehan's presentation of business and business and manufacturing and development. And she arrives and is ushered into the hall and taken upstairs and there's a velvet |
| 1:50.8 | curtain and it pulls back and |
| 1:53.4 | and congratulations a very good evening to you thank you for this the book is |
| 1:58.1 | wild ride a short history of the opening and closing of the Chinese economy. You are privileged to have |
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