Chapter
The Chinese Stress Test
54:08 - 58:58 (04:50)
The Chinese economy is facing a fundamental slowdown which affects banking, mortgages, real estate, and the surging middle class, whose expectations of life have risen, and this may be just the beginning. The global slowdown, plus inflation, has caused a stress test on every country.
Clips
In the last 30 years, the Chinese economy has seen unprecedented growth, going from $318 billion in 1990 to $10.5 trillion in 2020, with GDP per capita growing in a similar ratio from $318 per person to $12,500, accounting for 20% of the global GDP today.
54:08 - 55:18 (01:10)
Summary
In the last 30 years, the Chinese economy has seen unprecedented growth, going from $318 billion in 1990 to $10.5 trillion in 2020, with GDP per capita growing in a similar ratio from $318 per person to $12,500, accounting for 20% of the global GDP today. Despite the common notion of manufacturing driving the economy, the manufacturing sector has only accounted for about a third of it, reaching an all-time low in recent years.
ChapterThe Chinese Stress Test
EpisodeE88: First principle politics, China chaos & outlook, state of private/public markets & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A slowing economy, surging middle class, and young population are causing a stress test on China's banking, mortgages, and real estate sectors.
55:18 - 58:58 (03:39)
Summary
A slowing economy, surging middle class, and young population are causing a stress test on China's banking, mortgages, and real estate sectors. The global slowdown and inflation are also contributing to the stress test experienced by every country.