China Shock 2.0
4/23/202624 min
In the past decade China has transformed itself into a high-value producer of sophisticated goods, threatening jobs in Europe and the rest of Asia. Today on the show, the FT’s Beijing bureau chief Joe Leahy joins Katie Martin and Rob Armstrong to discuss his three-part series on China’s new economy. Also, they go short prediction markets, long exit rows and long Xi Jinping’s chances of re-election.
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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.
Read a transcript of this episode on FT.com
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First 90 secondsKatie Martin· Host0:00
[on-hold music] Pushkin. When you think of China's role in the global economy, you might think of it as the place that makes low-value stuff for the world. It makes widgets, it makes the basics, and it does that quickly, cheaply, and on a huge scale. And that makes it hard for other countries to make widgets and basics because we just can't beat China on price or speed. But it's also made life much cheaper for all of us over the years as we load up on bargain goods that are made in China. People who are very upset about this include a Mr. Donald J. Trump. But actually, that image of China is really out of date. In fact, China is absolutely crushing it as a superpower in super high-tech industries, including electric vehicles and solar. Today in the show, what does that mean for the rest of the world? And also, how might China emerge as the big winner from the war in Iran? This is Unhedged, the markets and finance podcast from The Financial Times and Pushkin. It's Martin, a markets columnist at The FT in sunny but chilly London. With me down the line from New York City, back from his jolly in Switzerland, we have a somewhat jet-lagged Robert Armstrong. Rob, say hi.
Robert Armstrong· Host1:24
Hi. What time is it right now?
Katie Martin· Host1:26
I don't know. Maybe you can check your cuckoo clock. [laughs] Did