China’s economy emerged from the pandemic much weaker than before. Unemployment is up, exports are down and a burgeoning property crisis is having a devastating impact on local government finances.
These changes in the economy are happening very fast, so quickly that’s it difficult for experts to keep pace with what’s happening, much less among those who don’t closely follow Chinese economic trends — particularly in developing countries.
Michael Pettis, a senior fellow at the Carnegie Endowment for International Peace, is one of the world’s foremost scholars on the Chinese economy. He joins Eric this week to discuss how the dramatic changes that are now taking place in China will impact countries throughout the Global South.
SHOW NOTES:
Amazon: Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace: https://amzn.to/46Iiqel
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