4.8 • 1.6K Ratings
🗓️ 21 April 2025
⏱️ 42 minutes
🧾️ Download transcript
In Episode 411 of Hidden Forces, Demetri Kofinas speaks with Shehzad Qazi of China Beige Book about the impact Trump’s China tariffs are having on the U.S. and Chinese economies and prospects for a grand bargain.
Demetri and Shehzad discuss:
The material impact that the trade war has had thus far on both economies
The companies and sectors most likely to be impacted, as well as those best positioned to weather the storm
The respective performance of each country’s currency and stock market
Explanations for the punctuated sell-off in U.S. Treasuries
China’s action plan to revitalize domestic consumption
Demetri also asks Shehzad about Trump’s stated desire to “do a deal with China,” what such a deal would look like, how big it could be, and what concessions either side is prepared to make in order to get it done.
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Producer & Host: Demetri Kofinas
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Episode Recorded on 04/16/2025
Click on a timestamp to play from that location
0:00.0 | What's up, everybody? My name is Demetri Gaffinus, and you're listening to Hidden Forces, |
0:06.0 | a podcast that inspires investors, entrepreneurs, and everyday citizens, the challenge consensus |
0:12.6 | narratives, and learn how to think critically about the systems of power shaping our world. |
0:18.4 | My guest in this episode of Hidden Forces is chief operating officer at |
0:22.1 | research firm China-Bash book Shazad Kazi. Shazad was last on the podcast more than two years |
0:28.2 | ago to discuss the post-COVID reopening of the Chinese economy. I asked him back on the podcast |
0:33.8 | today to discuss the preliminary impact Trump's tariffs have had on U.S. and Chinese |
0:38.7 | businesses and on their respective economies, stock markets, and currencies. We also discuss |
0:44.8 | whether the action plan to revitalize consumption that was recently announced by the Chinese |
0:49.3 | State Council and CPC Central Committee represents a more determined effort by Beijing to ignite a flywheel |
0:57.0 | of endogenous demand for Chinese output should the country's export sector become priced |
1:02.0 | out of critical markets in the U.S. and Europe. |
1:05.6 | I also ask Shazade about Trump's stated desire to do a deal with China, what such a deal would look like, |
1:12.2 | how big it could be, and what concessions either side is prepared to make in order to get it done. |
1:17.7 | If you want access to all of our premium content, where you want to learn more about the |
1:22.1 | Hidden Forces Genius community and how to attend one of our many virtual Q&As, in-person events, and dinners. |
1:28.4 | You can do that at hiddenforces.io slash subscribe. |
1:33.1 | And if you still have questions, feel free to send an email to info at hiddenforces.io. |
1:39.3 | And I or someone from our team will get right back to you. |
1:43.6 | And with that, please enjoy this timely and informative conversation with my guest, Shazad Khazi. |
1:53.6 | Shazad Khazi, welcome back to Hidden Forces. |
1:57.6 | Hey, thanks for having me back on, Dimitri. |
... |
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