HOUSING COLLAPSES, IRON ORE PLUMMETS, MANUFACTURING SHRINKS, CONSUMERISM NOWHERE: 3/4: 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

News, Books, Society & Culture, Arts

4.6 • 2.7K Ratings

🗓️ 25 August 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

HOUSING COLLAPSES, IRON ORE PLUMMETS, MANUFACTURING SHRINKS, CONSUMERISM NOWHERE: 3/4: Wild Ride: A short history of the opening and closing of the Chinese economy
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

Transcript

Click on a timestamp to play from that location

0:00.0	What does it take to race at 200 miles per hour?
0:05.0	To drive the world's fastest racing cars?
0:08.0	To win in Formula One.
0:10.2	Find out on F1 Beyond the Grid.
0:12.6	It's the podcast where the stars of Formula One slow down and open up.
0:17.8	Winners, champions and challenges share their stories
0:21.6	in fascinating conversations with me Tom Clarkson.
0:25.0	Here in-depth interviews with today's F-1 heroes, like Louis Hamilton, Lando Norris and Charla Claire,
0:32.0	plus legendary champions from the Sports Pass.
0:35.3	Find F1 Beyond the Grid, wherever you're listening to this,
0:38.7	and remember to hit Follow, so you never miss an episode. I'm John Batcher, C.S. I'm John Batcher,
0:50.0	CBSI on the world.
0:51.0	Anne Stevenson Yang is here. Her new book book is wild ride a short history of the opening and
0:55.0	closing of the Chinese economy we're at in 2020 COVID hits we know the story is
1:00.9	shut down of the Chinese economy, seal the apartment buildings in some
1:05.7	instances quite severe and the Chinese people are rattled. At the same time
1:11.2	there is a financial crisis that accompanies the shutting down of not just the Chinese economy, but the global economy.
1:17.5	We're still recovering.
1:19.0	And all of the bad credit that is now out there cannot be serviced easily. What is to be done?
1:26.0	It's not just the ghost cities because I have this fact from Ann's reporting
1:32.0	25% of the GDP that's been reported all these years is based
1:37.1	upon the real estate.
	...

Please login to see the full transcript.

Previous episode | Next episode

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

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