How Financial Repression in China Helped Cause the Trade War

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 30 September 2019

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

For years, China has experienced blistering growth. Driven by an investment-heavy economic model, this growth has limited household income while subsidizing business. This system worked extraordinarily well for years, but the system has recently been hitting its limits. On this week's Odd Lots, we speak with Michael Pettis, a longtime China expert who serves as a finance professor at Peking University as well as a Senior Associate at the Carnegie Endowment. He explains why China must rebalance its domestic economy, and how its domestic policies helped contribute to today's trade tensions with the U.S.

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Transcript

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0:00.0	Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.
0:07.0	I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and
0:15.5	I'm going to explore the lessons we can learn when creativity and ambition collide
0:20.7	with competition and power.
0:23.0	Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts,
0:28.0	or wherever you get your podcasts. Hello and welcome to another episodeieson Thalots podcast. I'm Tracy Allaway.
0:47.0	And I'm Joe Wiesenthal.
0:48.0	So Joe, you know there's a very, very important date coming up.
0:52.0	Mmm.
0:55.0	What is it?
0:57.0	I'll give you a hint.
0:59.0	It's in October.
1:00.0	Oh, right, of course.
1:02.0	Major deadline for the trade tariff.
1:05.0	It took me a second, I'm sorry.
1:07.0	Uh, yes, those are always happening, but there's a date that's even more important,
1:12.0	and it's actually really important for the
1:14.4	US-China trade war but it's October 1st and that is the National Day of the
1:21.7	People's Republic of China and this year it's even more
1:25.0	important than usual because it's the 70th anniversary of the founding of the PRC.
1:30.8	Ah, okay that I didn't realize.
1:35.0	Okay, and this tends to be a sort of politically sensitive date for the Chinese authorities.
	...

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