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The Intelligence from The Economist

Yuan direction: Chinese firms head south

The Intelligence from The Economist

The Economist

Daily News, Global News, News

4.53.7K Ratings

🗓️ 1 August 2024

⏱️ 25 minutes

🧾️ Download transcript

Summary

As domestic demand in China slows, and the West puts up trade and political barriers, Chinese firms are shifting their focus to poorer parts of the world. After Russian attacks on Ukraine’s energy infrastructure intensify, our correspondent visits a wrecked power plant (9:10). And how the doner kebab became a cultural touchstone (17:00).


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Transcript

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0:00.0

The Economist.

0:10.0

Hello and welcome'm Jason Palmer.

0:15.0

Every weekday we provide a fresh perspective on the events shaping your world.

0:21.0

From the state... world.

0:24.0

From the start of the war in Ukraine, it became normal, even expected that Russia would try to destroy energy infrastructure.

0:31.0

Those attacks have intensified and are now

0:33.7

targeting solar and wind installations. We pay a visit to a wrecked power plant.

0:38.6

And whether you call it a cababab, kebab, kebab, whatever, everyone knows the flatbread filled with

0:46.7

seasoned meat salad and sauces.

0:49.2

In Britain, it's survival food after a heavy night. In Germany, the deuter kebab has become a cultural touchstone.

1:01.9

But first. China has been one of the world's fastest growing economies for decades.

1:14.4

It is now the second largest.

1:16.6

If anything, he said China's trying to stop the economy from overheating too quickly.

1:20.9

Of course China growing faster than America or then Europe or Japan.

1:28.0

But growth has slowed sharply, partly because of weak demand at home and a drawn-out downturn in property.

1:34.4

This was supposed to be the year that China's economy came roaring back.

1:39.2

What we've had instead are signs that this economy is struggling.

1:43.3

China's economy is in trouble due in part to the real estate collapse.

1:48.3

It was once considered the workshop of the world.

1:51.3

Foreign companies flocked there to make goods for export.

1:54.0

That business is also under pressure.

1:56.4

Yesterday new figures showed that factory output has been falling for the past three months.

...

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