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Foreign Policy Live

What China’s Slowdown Means for the World

Foreign Policy Live

Foreign Policy

Politics, News Commentary, News

4601 Ratings

🗓️ 6 October 2023

⏱️ 46 minutes

🧾️ Download transcript

Summary

The world’s second-largest economy is slowing down. But are concerns overblown? What’s at risk for the global economy? How should policymakers react? The Wall Street Journal’s chief China correspondent, Lingling Wei; economist Adam Posen; and FP’s James Palmer join Ravi Agrawal to decipher the economic data and news from China.  Suggested reading: James Palmer: As China’s Property Sector Crumbles, Who Takes the Fall? Zongyuan Zoe Liu: Xi’s Policies Have Shortened the Fuse on China’s Economic Time Bomb Hal Brands: The Dangers of China’s Decline Tony Chan, Ben Harburg, and Kishore Mahbubani: America Can’t Stop China’s Rise Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:31.5

Hi, I'm Ravi Agrawal, foreign policies editor-in-chief. This is FP Live.

0:40.4

Welcome to the show.

0:42.6

China's economic rise over the last four decades has been unprecedented.

0:47.9

In many ways, it shaped the world we're in today.

0:51.2

And just as China's rise had immense impacts in that country and around the world,

0:57.7

its slowdown will also have important implications. But how much will China's growth actually slow?

1:05.4

Data is always so murky with China. The World Bank says it expects China's GDP to expand by just 4.4% in 2024,

1:14.2

missing the government's official target of 5%. And behind all of that lies a spate of troubling

1:20.5

economic indicators. Property sales have declined. Debt has soared. Exports are slipping. Foreign direct investment is declining.

1:30.4

A fifth of the country's youth are unemployed. And in response, Beijing is limiting its

1:36.2

release of economic data. For those of you joining us for the first time, we often take

1:42.2

subscriber questions on these tapings. If you're not

1:45.5

a subscriber, but you've been waiting for the right moment, we have a big 50% discount going. Go to

1:51.6

foreign policy.com, use the code FP Live when you check out. So, as I said, China's a difficult

1:58.9

country to decipher, but I was joined by three terrific China experts who know the country and its economics well.

2:06.9

Linglingway is the Wall Street Journal's chief China correspondent. She lives in New York now, but she spent a lot of time in Beijing.

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