The Real Story
Feb 2, 2024
China has tightened financial industry rules as it tries to halt a deepening sell-off in the world's second largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks over the past three years. Meanwhile a court in Hong Kong this week ordered the liquidation of debt-laden Chinese property giant Evergrande. Youth unemployment in China is thought to be around 20%. So, what’s the real state of China’s economy? Some analysts say a crackdown on commercial technology companies has harmed growth. Is it possible for the Chinese Communist Party to enjoy the benefits private enterprises can deliver, while still retaining the control it wants to have over the economy? Shaun Ley is joined by a panel of experts.
Stewart Patterson - Co-founder of an investment management firm in Singapore, author of 'China trade and power: Why the West's Economic Engagement Has Failed' and research fellow at The Hinrich Foundation.
Nancy Qian - Professor of Economics at Kellogg Business School, Northwestern University, Illinois
Yu Jie - Senior research fellow on China in the Asia-Pacific Programme at the independent policy institute, Chatham House
(Photo: A man sells food in his street booth in Shanghai. Credit: Alex Plavevski/EPA-EFE/Rex/Shutterstock)
