Special Edition: Common Prosperity, Coal, and Competitiveness: The US and China (Part II)

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

🗓️ 18 November 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

The relationship between the US and China is rapidly evolving. Economic and political decisions made today will impact power dynamics in both the near and long term. We'll examine the Chinese government's plans to shape industries, continue its domestic growth, and deliver on commitments made to reduce greenhouse gas emissions. Plus, we'll explain what those decisions may mean for Chinese and US investors in the near future. The latest episode of Living Beyond Borders, a special podcast series from GZERO and Citi Private Bank, is the second in a two-part series on the relationship between the US and China. This episode features: Caitlin Dean, Head of the Geostrategy Practice at Eurasia Group (moderator) David Bailin, Chief Investment Officer and Global Head of Investments for Citi Global Wealth Steven Lo, Co-Head of Citi Global Wealth for Asia Pacific Ian Bremmer, President at Eurasia Group and GZERO Media.

Transcript

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0:00.0	Welcome to Living Beyond Borders, the podcast from City Private Bank and G0 Media that examines the risks and opportunities in our rapidly changing world, from global politics to economics and what it all means for you.
0:22.6	I'm Caitlin Dean, head of the Geostrategie practice at Eurasia Group.
0:27.6	In the last episode of Living Beyond Borders, we looked at the latest developments,
0:32.6	economic and political, between the U.S. and China today.
0:36.6	In part two of this special series, we'll dive back into the conversation to hear about where
0:42.3	the two countries go next.
0:44.5	Joining me are Stephen Lowe, co-head of City Global Wealth for Asia Pacific, David Baylon,
0:50.7	Chief Investment Officer and Global Head of Investments at City Global Wealth, and
0:55.4	Ian Bremmer, President at Eurasia Group and GZero Media.
0:59.9	Let's dive back in.
1:05.2	Stephen, President Xi is using the banner of common prosperity to explain many of his policy
1:10.5	changes, like restrictions
1:11.7	on video gaming and a clampdown on for-profit education companies. He's also tightening his grip
1:17.7	on Hong Kong and potentially changing China's rules in Macau. What do you make of all of these changes
1:23.6	coming at once under this idea of common prosperity? I'm glad you mentioned common prosperity.
1:30.3	As the present sees a key policy plan for the next phase for China's development.
1:36.3	The concept of common prosperity is not new.
1:39.3	Deng Xiaoping also used the concept as the ultimate goal of a Chinese socialism at a time when China
1:46.6	started its reform and opening a policy in the early 1980s. However, Deng took a pragmatic approach
1:54.2	by encouraging a few groups of people to get rich first. As China has finally eliminated absolute
2:00.6	property in 2020, they will turn their
2:03.3	focus on reducing income inequality and working on common prosperity. From President C's recent article
	...

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